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Living abroad? You may still need to file a UK tax return

It’s that time of year to be thinking about your taxes once again. If you have left the UK to reside abroad you might still be required to complete a Self-Assessment return. This can happen if you continue to receive income from a UK source, including income from a rental property. It is important to be certain about whether you need to submit a return, so for more details, seek the advice of an accountant that has experience assisting expats.

You can still file online

Don’t panic if you have only now realised that you need to submit a tax return. Although you have already missed the October paper filing deadline you still have time to make the online deadline of January 31st.

Getting set up

In some cases, for example for the newly self-employed, HMRC will set up your Self Assessment Online account automatically. However, in other cases, you or your tax advisor will need to go through a sign-up process. You will require your Unique Taxpayer Reference (UTR) number and other personal details to complete the setup.

The perfect return

Do everything possible to avoid mistakes while completing your tax return. Seek the help of a tax advisor or make sure to meticulously check your return before submitting it. Take advantage of the opportunity you will have to complete and review the online return in stages. When reviewing your return, take a moment to double check the following:

• Check that all supplementary documentation is completed and included.
• If the downloaded return is used, make sure it includes your tax reference number.
• Use the right return for the right tax year – don’t just alter the date on an old return.
• Avoid including notes on the return like ‘information to follow’.

It is important not to forget that the deadline for online tax return submission is midnight on J_anuary 31st_ (that’s UK time, remember!) and there are severe penalties for missing it. Being just one day late means a penalty of £100, even if you have no tax to pay or have already paid the tax you owe.

HMRC provides a guide to completing an online tax return on their website. You can also discuss your tax affairs with them by calling their support line, but be prepared to spend a while on hold waiting to speak with them. In many situations, it’s easier and a lot less stressful to have an accountant organise and submit your return for you, especially when it gets this close to the deadline.

For advice about your tax return, feel free to call Angela O’Leary at Sable Accounting on 0207 759 7553.

This was posted in Bdaily's Members' News section by Scott Brown .