Early Income Tax Return Preparation
A new year and a new blog.
And for this new blog I have a simple first message.
If you are a self-assessed tax payer I would encourage you to have your income tax return for 2009 prepared as early as possible. Preparation of your income tax return will confirm for you if you are due a refund or have a liability and the amount of that liability. Should you have a liability you will then have until October 31st (online pay and file deadline to be confirmed) to pay it.
Preparing your income tax return early will provide you with certainty with regard to the income tax you will be paying in 2010 and this will assist you with cashflow management for the coming year.
If you are a PAYE tax payer and have not yet claimed all the tax credits due to you then I would encourage you to do so. Claiming previously unclaimed tax credits will result in a tax refund to you, and again, any tax refund may be of assistance to you in the current climate.
