Thursday, 10 March 2011

Director and Personal Tax Return

Tax returns are to determine how much tax you have already paid and how much tax you owe to pay.

Summary of Key points:
  • You can either fill in your tax return online or on paper.
  • Deadline for online tax return is 31st January after the tax year end.
  • Deadline for paper tax return is 31st October after the tax year end.
  • If you're on PAYE, you don't have to fill in a tax return whereas if you're a Company director you must.
  • There are 2 types of tax returns; Short (4 pages) and Full (many pages!) - check whether you can just get over it by the Short Tax Return.

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