From April 2021, it is proposed (but not confirmed) that the self-assessment tax return may be replaced by 5 new reporting obligations made during and after the tax year. Depending on your sources of income, if you are not already using software for your record keeping/property income you may need to make a change.
Pentlands are watching the proposed changes carefully and naturally we’ll keep you updated as and when we know more. That may not be for some time as we rather think that HMRC and the government are quite busy with other issues at the moment. Watch this space.
Calling all Clients
We want to have your tax bill calculated for you in plenty of time before you need to pay. Getting the information together is never as bad as you think, so please do send us the information as soon as you are ready, and no later than the 30th September 2019.