I hope you’re staying safe and well during these strange times.
Everything is strange just now, isn’t it? So why not let HMRC get in on the fun too and send you that strangest of all things….a request for you to submit a tax return for 2019/20.
In any other April this would have felt completely normal, right? Normal and boring!
But this April – REALLY????? Guys, you, like, STILL want to ask me normal questions about last year? And you expect me to answer them? And you think I’m going to pay you something next January?!
Strange though it seems, here at the home of tax accounting for actors we see three reasons why you should respond as normal to this year’s request – and even consider submitting your return sooner rather than later.
HMRC have already allowed everyone an automatic deferral of this year’s 31 July payment if they need it. Not to wish the economy down, but we can all see that the fallout from the present difficulties might easily last into this Autumn and beyond. That means that there may also be deferrals next year. If you get your return done soon, you’ll be more easily able to see where you are in relation to deferrals.
If you had a different outturn in 2019/20 to any of the three years before, you will be better placed to argue your corner if you lose out in any way in the Self-Employment Income Support Scheme if you have submitted your return.
Let’s face it….you’ve probably got more time now to get it done than you’re ever going to have…
Tax accounting for actors is our speciality but as a leading accountant for creatives we’ll be happy to chat to you about your financial affairs with no obligation on you whatsoever.
Our fees are great value and even better, we are not collecting any fees for as long as the tax deferment period lasts, so even if we help you submit your return next week you will not pay anything until Jan 2021 at the earliest, and quite possibly not even then.
Please visit tax accounting for actors website to find out about tax accounting for creative and cultural industry professionals