What occurs at closing of the year of UK taxation?
On completion of the UK tax year on 5 April, taxpayers ought to be ready to calculate their income and expenses of the past tax year. It is the beginning of the Self Assessment period during which individuals and businesses have to compute the taxes due. It is on or after this date that you are able to submit your tax return, with October and January being the deadlines (paper and online respectively). This is also a good time to do tax planning projects, pensions together with savings and make the position in next year a better one with its tax.
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