With the ever increasing complexity of taxation and penalties for non-compliance, completing your tax return in a timely fashion is becoming more and more important.
By collating all your allowable expenses you can reduce the tax due on the rental income and any potential Capital Gains when the property is sold.
31st October after the end of the tax year.
If you file your tax return before 31 December after the end of the tax year and the underpayment is less than £3,000.
12 months from the end of the Accounting period.
Complete your self assessment tax return as early as possible so that you won’t incur any late penalty charges. An early return avoids stress and hassle associated with the self assessment process.