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Tax Return Timings

 
(@jonnymilton74)
New Member Registered

Hi,

My CMS calcs are redone every June. I work through a Ltd company and for the last couple of years I have got my tax return in immediately after 6th April and the numbers are therefore ready for the calcs in June.

For various reasons, next April I probably won’t be able to get the tax return in immediately - more likely in July, so after the annual review date.

In that scenario, will the CMS just use the info they currently have on file and then use the updated info the following June? That seems likely as a tax return isn’t actually due until the following January so they must be used to this but don’t want to cause any aggro. 

If anyone can confirm, that would be great. Thanks

Quote
Topic starter Posted : 01/10/2024 4:54 pm
(@hisdadness)
Active Member Registered

Hi, yeah you’re correct. If they haven’t got any update then should continue on what’s already there.

Some individuals on self assessment can have the ability to vary income year on year between high and low income on alternate years.

if this were true for you then I’d recommend filing tax return on 6th April for a ‘low’ year and 31st Jan following year for the ‘high’ years 😉 

ReplyQuote
Posted : 06/10/2024 4:56 am
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