Jarvis & Co Accounting Limited

20/01/2025

Common Tax Filing Mistakes.
✨ If you have made a mistake on filing your tax returns you can submit an amended return going back 4 years. You can also submit electronic emended returns going back 2 years.
✨It’s important to check all figures before signing and submitting your returns.

19/01/2025

Haven’t received your tax refund yet? Then check these possible reasons:
💡The Tax year is 6 April to 5 April the following year and the filing deadline is 31 January the year following. Check that you have filed the correct Tax year.
💡Check that you have received a filing receipt. HMRC gives a filing reference number when the return has been accepted by HMRC.
💡HMRC usually issues tax refunds within 5 working days and 2 weeks for online submissions and up to 8 weeks for paper. Wait until this time period has passed before taking further action.
💡You can verify your refund status by logging into your Personal Tax Account. You might have to request the refund from your Personal Tax Account after the return has been submitted. Check this account for the status on payment, delays, processing status and paid status.
💡Check your details are correct. Your bank account details for a refund and personal details like name and address. Again this can be checked from your Personal Tax Account and your Tax Return.
💡Received any letters from HMRC, check the correspondence as additional checks or further information might be needed.
💡Any underpayments in previous Tax years, refunds may be adjusted if you owe money to HMRC or other agencies.
💡Contact HMRC directly if there is no refund or update. HMRC Income Tax Helpline: 0300 200 3300

If you need any support with your tax returns or refunds then contact us.

18/01/2025

✨Records of your accounts and tax returns are essential as:
✨They keep you compliant and ensures HMRCs legal requirements are met.
✨They provide documentation in case of an HMRC investigation or query.
✨Accuracy- They help avoid or spot errors in your returns.
✨Tax Planning - Enables efficient tracking of income, deductions, and allowances.
✨Provides proof of your tax position which protects against penalties of over claiming or underpaying.

✨Good record keeping helps manage your taxes efficiently and reduces stress during filing.

For any information contact [email protected]

16/01/2025

✨planning for the future when you are a sole trader or director is important when wanting to buy a house.
✨ The earlier you plan the better chances you have of securing a mortgage and at lower interest rates.

15/01/2025

✨Make sure you have all the relevant information and paperwork to file your tax return.

14/01/2025