Be sure to avoid a January hangover for tax self-assessment, says ACCA

As the UK prepares for Christmas and the new year Chas Roy-Chowdhury, head of tax at ACCA (the Association of Chartered Certified Accountants) has offered a reminder to not leave tax self-assessment to late in January.

‘With the self-assessment deadline on January 31 it can be tempting to put off registration and preparation until well into the New Year,” he says.

‘Yet leaving it to the deadline can lead to an unfortunate January hangover, in addition to paying off Christmas expenses. It also means that eligible taxpayers may miss the 30 December deadline for automatic deductions, which reduces the ability to make the choice which is right for you.

‘If you are looking to wait, do remember that online tax returns are due by midnight on the 31 January 2018. You should aim to register at least two weeks beforehand to allow enough time to complete the registration process.’

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