[teotrad]

Hi,

I registered as self-employed last years, and I done my tax return at 31 Jan 2008 earlier of this year.

I talked to my accountant weeks ago, he said my next deadline is 31 Oct this year for self-assessment. Am I right to assume that what he meant by self-assessment is also meant by tax return at the same time?

[Jeewhizz]

yes - same thing.

It's Oct this year to submit a paper form. However, he can submit an online application by 31 Jan 09

[James Smith]

It was 30th September but has changed this year to 30th October for paper filing. Given you now have to hand write the paper filed returns I cant imagine many tax agents doing it that way, but prehaps there are still one or two out there who just do a handful on the side.

The deadline is 31/1 for the vast majority who e-file but there is no reason not to get it all sorted our right now so you know how much you need to pay well in advance. There are often discounts available for filing April to August vs premiums to pay in December/January for last minute returns so it does make sense to get it sorted out.

hope that helps

Regards,

[teotrad]

Thanks James,

Thanks for clarify it all.

[Mike]

When you say discounts, is this a recorded fact? ie if i submit early there will be a discount, or is it a discressionary thing?

[James Smith]

Mike - you ask "When you say discounts, is this a recorded fact".

Well it’s between you and your accountant how they like to encourage their clients to send in their records in good time given they presumably can’t do the lot in in the last week in Jan!

I for example tend to be a lot more lenient on fees for self assessment and how much time I spend on a file pre August when I tend to be quieter. Any annual increase on my fixed fees are always from 1st Sept. Late delivered accounts (which in my contracts are from 5th November) may incur additional fees depending on the circumstances for guaranteed completion by 31/1, which ramps up during Jan to ration my time which I could easily sell 20 times over in the last week of Jan.

What your accountant does is up to them – but on average one of my clients filing in April probably pays 25-30% less than someone filing in Jan. They also tend to know what tax is due and get some timely advice rather than 10 months into their next tax year so it all helps.

As a bonus you also reduce the length of time HMRC can investigate you as the clock starts ticking on the date of submission - so 10 months earlier = 10 months closer to certainty over your affairs.

Regards,

[Mike]

Thanks James,

sorryt i missunderstood what you meant - I thought you meant HMRC, not the accountant