The countdown has begun! The deadline for submitting your 2023/24 self-assessment tax return is fast approaching, with 31 January 2025 as the final date to file. Missing this critical deadline could result in penalties and interest charges on any overdue tax payments.
If you’re self-employed and usually handle your own tax returns, be aware that the basis period reform introduced this year may mean:
- Additional entries required on your 2023/24 tax return.
- Higher tax liabilities due to changes in the way profits are assessed.
It’s essential to understand these changes and ensure your tax return is completed accurately to avoid unnecessary stress or errors.
Don’t Leave It Too Late!
Navigating the complexities of tax returns, especially with the new reforms, can be challenging. That’s where we come in! At EOACC, we help self-employed individuals and small businesses file their tax returns on time while maximising accuracy and compliance.
Our team can:
- Clarify how basis period reform impacts your tax return.
- Ensure all necessary entries are completed accurately.
- Help you understand and plan for any additional tax due.
Avoid last-minute stress and potential penalties. Let us handle your tax return with precision and care. Contact us today, and we’ll ensure your tax affairs are in order before the deadline.