It is now time to start preparing the 2023 personal tax returns, which cover the year 6th April 2022 to 5th April 2023.

You may receive a notice from HMRC, called a SA316, which confirms that they are expecting you to submit a tax return. It also means that they will issue fines automatically unless you either submit the return, or your situation has changed and you advise them to remove the notice.

The final deadline to submit the 2023 tax return is 31st January 2024, however it is highly recommended to submit the tax return well before this. I recommend 31st October 2023 as a personal deadline to use.

Unfortunately, there are still some people waiting for 2022 tax return refunds, and with the current closure of the agent telephone line for chasing repayments they may be waiting some time. Submitting the return earlier in the year allows it to be processed before the January rush, and speeds up the issue of refunds.

If you are employed and would like underpayments to be possibly collected through your tax code next year, the return has to be submitted before 30th December 2023. With the holidays at that time of year, the return should be submitted well in advance to ensure that it is processed.

If you have any queries regarding the 2023 personal tax return, please do contact me. I offer a no-charge initial consultation and quote to see how I could help to make tax easier for you.