300,000 Reasons to Double Check Your Self-Assessment

Self-employed workers are being urged to double check their self-assessment for accuracy after it was revealed that HMRC opened more than 300,000 tax return investigations last year.
It has also been revealed that one-third of self-assessors could be paying too much tax.
Just ahead of the January 31 deadline, it has been revealed that the tax authority opened 300,762 new tax investigations in 2019 and received £1.2bn in extra tax from investigations into self-assessment tax returns in 2018/19.

As we head deeper into tax season, CloudAccountant.co.uk would like to remind all of its customers that they can arrange to come into our Wilmslow office to get extra help with their tax returns before the January deadline.

1 in 5 pensioners face tax return ‘misery’

We all know that filling out a tax return can be painful, but while you might have thought that retirement would release you from HM Revenue & Customs’ clutches, that no longer seems to be the case.
The number of pensioners who filed a tax return last year hit 1.7m, a figure that has jumped significantly in the last two decades.
Figures obtained from HMRC by insurance company Royal London show that in the 2015-16 tax year, 1.7m of the 10m who completed an individual tax return were aged 65 or older.
More than 250,000 of these tax return pensioners were aged 80 or over.