Ready to complete your online self-assessment tax return by 31st January?
Mi Ventures have collaborated with HM Revenue and Customs (HMRC) to bring you the useful guide below - containing useful information, videos and links on completing your self-assessment.
Here at Mi Ventures we understand how mind-boggling the process can seem so we've set the process out simply...
Completing your return
To complete your return on line you will need to sign in to your Government Gateway online account. You can go back to a tax return you’ve already started.
Use the user ID and password you got when you registered for Self- Assessment or when you set up your HMRC online account.
If you run into any problems or just have a quick question, why not take advantage of HMRC’s SA Live sessions running between now and the 31st of January.
HMRC have created this useful video for those completing their first Tax Return:
Part 1 - Click here
Part 2 - Click here
Paying your tax bill
The deadlines for paying your tax bill will be the 31st January 2016 and the 31st July 2016. Once you’ve entered your tax return, you’ll see how much you owe and will be given payment options.
If you’d like some guidance, HMRC have produced a useful video called ‘Self Assessment Payment Deadline Dates’ which can be found on our Mi Ventures HMRC News group.
The HMRC News group on our website also contains a range of useful links, factsheets and tools too.
HMRC have answered a number of commonly asked questions about paying your Self Assessment Tax Bill in this useful video.
Budget for your next tax bill
Payments of tax are due twice a year and so it’s important to make sure that you have available funds to make the payments on time!
Use the HMRC ‘ready reckoner’ tool to budget for your Self-Assessment tax for the 2015-2016 tax year.
Got a question?
Remember, Mi Ventures offers instant, live chat business advice from experienced advisors at the click of a button. Click on the 'Livechat with a Mentor' button at the bottom right of your screen now to ask a question.