Your Tax Year End Checklist
The tax year for 2021/2022 comes to a close on Tuesday 5th April 2022 and whether you’re a sole trader or a limited company, it’s worth making a note for various reasons.
The end of the financial year doesn’t necessarily mean deadlines for your business - this all depends on how you are set up - but nevertheless it’s a good time to assess your business finances.
Filing dates for limited companies will depend on your accounting period however if you have staff on your payroll then you'll likely need to file final reports by 19th April and provide P60s by 19th May 2022. Self assessment tax returns for 2021/2022 can be filed from 6th April 2022 up until 31st October 2022 for paper returns and 31st January 2023 for online returns. It can be tempting therefore to put off filing your self assessment return until next year but it’s best to get it out of the way to avoid risking any pesky penalties for late filing.
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