As your accountant, we’re here to give you tips and advice on managing your finances and tax preparation all year round.
Our topic today is around self assessment. We wanted to let you know that you can pay your self assessment bill through your PAYE tax code as long as the following apply:
You owe less than £3,000 on your tax bill
You already pay tax through PAYE, for example you’re an employee or you get a company pension
You submitted your paper tax return by October 31st or your online tax return online by December 30th
A great option for employees or pensioners if you owe less than £3,000 in tax and you submit your tax return by 30th December 2019, is to opt to have your tax liability collected through your tax code.
The benefit is having your tax bill collected from your wages or pension throughout the year – easing the pressure on cash flow.
We’ll be in touch further messages like this in the final months of the year to provide advice, support and tips around a range of topics. And if you have any questions in the build up to January, don’t hesitate to reach out to us first!
Get in touch today!