Top Tips for Your Tax Return

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The deadline for personal online tax returns date is looming, and many people are looking for a bookkeeper in Luton or are considering using an online tax return service to get the best tax return or the biggest tax savings.

This time of the year is full of happy times and activities. First spending time with friends and family during Christmas. Then having a party to celebrate the year that was, and dreaming about what 2015 might bring. Some of you may have even planned a winter sport holiday or a trip to the sun to escape the UK winter in January.

However, it is also the time of year people are starting to feel a deep sense of dread deep inside, because tax time is just around the corner and the prospect of having to organise paperwork again and putting a personal tax return together just seems too much.

You might be in the same boat, despite your best intentions you have let your administration slip, your receipts are all over the place and you have no idea about what tax deductions might be relevant for you this financial year.

Here are some tips to use if you are considering submitting your own return:

  • *Gather all the records you have of your expenses, income, savings and investments.
  • *Take time to organise your paperwork to ensure you can claim maximum benefits.
  • *If you are self employed or have property income, familiarize yourself with the latest tax updates to claim maximum tax savings.
  • *If you receive employee benefits or if you are an older citizen there also tax changes you need to be aware of to be able to get the biggest tax savings.
  • *Make sure your tax code is correct so you are paying the correct tax amounts.
  • *Take advantage of the maximum capital gains tax allowance relevant for your situation.
  • *Ensure you submit your tax return on time to avoid fines!

 

We know that for many people just reading through the above list causes headaches and anxiety. We would love to help you and look after your tax returns for you, so you can relax and enjoy this time of year fully!

We offer the most reliable and best bookkeeping service and online tax return service in Luton.

Get in touch to find out how we can help and how affordable our service is!

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