With the next tax return deadline on the horizon, HMRC has contacted millions of people to emphasise the importance of submitting their tax returns well ahead of the January 31, 2025 cut-off. The returns are required for a multitude of reasons, whether due to full-time self-employment or additional income sources, around 12 million people in the UK are affected.
In an effort to encourage early submissions, HMRC communicated on Monday through an email: “Sending your tax return early gives you more time to plan and budget for payments ahead of the deadline of January 31, 2025. For peace of mind, help and support, join our live webinars during which you can ask questions using the on-screen text box.”
To assist taxpayers in meeting their obligations, HMRC is conducting three webinars covering essential tax return information. The first session aims to explain how to account for other forms of income on an online tax return, with a focus on bank interest, dividend income, state pensions, other state benefits, work pensions, the High Income Child Benefit Charge, among others.
Tax reliefs, such as contributions to pensions, charitable donations, blind person’s allowance and marriage allowance will also be discussed, promises HMRC.
The second webinar focuses on your Self Assessment calculation and payments, providing more details on what’s included in your calculation, payments on account, the full Self Assessment calculation, what to pay and when, budget payment plans, payments already made, how to pay and what to do if you can’t pay on time, reports Lancs Live.
