In England, the financial year begins on 6 April and ends on 5 April of the following year. The year 2020/2021 started on April 6, 2020 and will end
on April 5, 2021.
Most people who were self-employed or employed will be entitled to a refund
of overpaid taxes to the state after April 6 this year.
Employed - You should have a P60 or P45 form to check that you have not overpaid taxes. If you worked in one job without a break during the financial year, it is enough to have the last (week 52) payslip.
The last day you had to file a tax return for 2020/2021 is January 31st. If you have not done so, please contact us and we will help you resolve your concerns, including cancellation of fines for late fees.
All self-employed persons must declare their income in April each year. The Tax Inspectorate (HRMC) will send you a return form (tax return) or just a reminder letter. If you are not yet registered as a self-employed person, contact us now and we will do it for you. This declaration year 2020/2021 will be slightly different.
You have to remember that you must add and tell us about the payouts you have received in connection with Covid-19.
(Self employment grants must be declared and will be counted as
All employees themselves need to know:
- All documents related to your business must be kept for 5 years and 10 months after the tax year (bank statement, receipts, expenses, etc.)
- It is advisable to have a separate business account (business bank account). All business banking operations, transfers, payments should be made in this bank account.
- Gross income is considered your income, so it is not advisable to transfer cash to your account. Please contact us, we will help you and give you all the advice.
calculate your business income and expenses;
to declare income;
refund of overpaid taxes.
If you have more questions, please contact us.