{"id":764,"date":"2022-04-27T17:57:49","date_gmt":"2022-04-27T16:57:49","guid":{"rendered":"https:\/\/wearesapphire.co.uk\/\/accounting\/?post_type=insights&p=764"},"modified":"2024-04-02T17:58:46","modified_gmt":"2024-04-02T16:58:46","slug":"stress-free-tax-returns-with-sapphire","status":"publish","type":"insights","link":"https:\/\/wearesapphire.co.uk\/accounting\/insights\/stress-free-tax-returns-with-sapphire\/","title":{"rendered":"Stress-free tax returns with Sapphire"},"content":{"rendered":"

Now that the new tax year is upon us, many may be thinking of their taxes. You must\u00a0send a tax return<\/a>\u00a0if, in the last tax year (6 April to 5 April), you were self-employed as a \u2018sole trader\u2019 and earned more than \u00a31,000 (before taking off anything you can claim tax relief on), or a partner in a business partnership.<\/p>\n

Tax returns can be stressful; there are a number of deadlines that you must meet so as to not receive penalties and fines. HM Revenue and Customs (HMRC) must receive your tax return and any money you owe by the deadline. These deadlines can catch many people out. Luckily, Sapphire can help with all your tax needs.<\/p>\n

The last tax year started on 6 April 2021 and ended on 5 April 2022. The deadlines for the current tax year are as follows:<\/p>\n\n\n\n\n\n\n\n\n
Self Assessment<\/td>\nDeadline<\/td>\n<\/tr>\n<\/thead>\n
Register for Self Assessment if you\u2019re\u00a0self-employed or a sole trader,\u00a0not self-employed, or\u00a0registering a partner or partnership<\/td>\n5 October 2022<\/td>\n<\/tr>\n
Paper tax returns<\/td>\nMidnight 31 October 2022<\/td>\n<\/tr>\n
Online tax returns<\/td>\nMidnight 31 January 2023<\/td>\n<\/tr>\n
Pay the tax you owe<\/td>\nMidnight 31 January 2023<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Penalties<\/strong><\/h3>\n

You\u2019ll get a penalty if\u00a0you need to send a tax return\u00a0and you\u00a0miss the deadline\u00a0for submitting it or paying your bill.<\/p>\n

There will be a late filing penalty of \u00a3100 if your tax return is up to 3 months late. You\u2019ll have to pay more if it\u2019s later, or if you pay your tax bill late. You\u2019ll be charged interest on late payments.<\/p>\n

That\u2019s why it is of the utmost importance to understand and get your tax right.<\/p>\n

How Sapphire can help with your tax return<\/strong><\/h3>\n

Filing a tax return is nothing short of complicated and\u00a0time-consuming. That\u2019s why we\u2019re here to take the\u00a0weight off your shoulders and provide you with a\u00a0competitively priced self-assessment tax return.<\/p>\n

Sapphire will:<\/p>\n