Tax Return Made Easy – 16 Things To Remember When Completing Self Assessment

The deadline for 2016/17 tax returns is only days away. Those who are self-employed, receive rental or savings income over certain limits, or who have made capital gains over the annual exemption of £11,100 for 2016/17 will need to complete their self-assessment by the end of the month. People who receive child benefit and where the higher earner in the couple has income of over £50,000 are also affected.

Over 11 million people need to file Self Assessment tax returns each year. Any return filed after the 31 January 2018 deadline - without a reasonable excuse - will mean a penalty of £100 even if there is no tax to pay. According to HMRC many people used the Christmas break to deal with this, for those who preferred to do other things over the festive period, here are some important points to remember when filing your tax return with HMRC: