Keep on top of your tax in 2018


22nd January 2018 Facebook Twitter LinkedIn Google+ Articles


Tax concept with hand pressing a button

 

As a freelancer, it can feel like your to-do list is never ending. Tax isn’t the most exciting thing you’ll have to do, but by being prepared and keeping on top of deadlines, you can make things a little easier. The tax specialists over at Alexander & Co have put together this handy infographic to help you stay on top of the key tax dates this year. Save it to your computer or stick on the fridge, so you can make sure you don’t miss a deadline over the coming year!

How to prepare for your tax return

Preparing for tax returns and deadlines can be difficult, but as the old saying goes, ‘failing to prepare is preparing to fail’! To make your tax returns a breeze, keep on top of receipts and expenses throughout the year. Use financial apps such as Xero, or even a simple spreadsheet will do. This way, you won’t be scrambling for scraps of paper as the deadline quickly approaches!

Don’t miss key deadlines

If you miss tax deadlines, you’ll be liable for penalty fees and charges from HMRC. By making sure you keep on top of expenses, receipts and accounts, you’ll be able to complete your tax returns in a breeze when the time comes, and avoid unnecessary fees.

How to get help

If you’re not sure where to start, or you need a little extra support, plenty of help and guidance is available to you. Check out the guidance and videos available on the gov.uk website, or alternatively speak to your accountant or business advisor for further help.

Hopefully these tips and tricks should help you breeze through your tax return in 2018!

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