Self-assessment tax returns are slowly approaching in the United Kingdom for 2023, as a result, UK tax lawyers remain high in demand this quarter. HM Revenue and Customs need to receive tax returns, along with any monies owing by the deadline to reduce the risk of penalty. UK tax lawyers are ready for the number of clients looking to appeal against the penalty this year.

Self-assessment tax turns are for those that are self-employed or sole traders with the deadline for paper tax turns being midnight on 31 October 2023, online tax returns are due at midnight on 31 January 2024 and monies are payable by midnight on 31 January 2024. Those that are making payments on account have a second deadline which is 31 July.

Those that want HMRC to automatically collect any tax from pensions and wages need to submit their returns by 31 December. Partnership returns are different with the dates being between 1 February and 5 April, if one of the partners is a limited company. Online returns are twelve months from the accounting date and paper returns are nine months from the accounting date.

Those that do not submit their completed tax return will be fined and receive an estimated tax bill or determination, this bill stands until the completed return is submitted. You only have three years from the 31 January filing date to submit your return on the estimated bill received.

If you do not submit a completed Tax Return, you will be fined and HMRC may issue an estimated tax bill (called a 'determination'). This estimated bill will stand until you send in the completed Tax Return. You have only three years from the 31 January filing date to replace the estimated bill. Remember that tax is the biggest earner for the government.

“We saw the highest earners paying top rates of tax come down on the 6 April 2023,” said Sanjay Panesar, the Senior Partner at Rainer Hughes, a leading UK tax law firm. “Chancellor Jeremy Hunt froze the income tax personal allowance at £12,570 until April 2028, which means that basic rate taxpayers do not have to pay income tax below this level. He also froze the threshold at which people start paying higher tax rates, as a result as wage rise, people will find they pay tax on a larger portion of their earnings as they move into higher tax brackets. As a result, we have experienced high demand for our UK tax lawyer services this year.”

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Rainer Hughes offers professional legal services to business and private clients in the United Kingdom. They have experience working with claimants and defendants, achieving landmark judgments. They are proactive with a high success range, they are also accredited, enabling clients to work with this firm with confidence. Rainer Hughes achieves legal excellence with very high standards and a highly competent and multi-faceted team. Some of the expertise they provide includes business start-ups, private equity, medical negligence, conveyancing, criminal litigation, and more. Full details can be found at https://rainerhughes.com.