Tax Year 2017-18 ended yesterday - you may be due a Tax Refund. Why wait? Act now..
For accountants, 6 April 2018 marks not only the start of a new year, more importantly, it signals the completion of the former year 2017-18. We can now begin to complete and submit 2018 Tax Returns. Why would you want to do that? The principal reason is that you may have been overtaxed "at source" during the year. Subcontractors have 20% CIS Income Tax deducted by Contractors. HMRC may have issued you with a plethora of PAYE Codes, adding their estimates of other income sources, which may prove wildly overstated compared to your actual other income. You may have had deductible employment expenses not reflected in your salary or PAYE Code. Your business may have had a poor year and made a loss - such losses can be offset against other income, or carried back.
Whatever the reason, now is the time to organise your information for 2017-18, submit it to us, and obtain the Tax Refund that is due to you. Why wait?
Contact our Team on 02844 616413