Can I do my own Tax Return?
Of course you can if you can work your way around the HMRC online Self Assessment new software.
Remember in 2015/16 you only had 1 allowance!
For 2016/17 you will have a choice of 3 – Personal, Dividend and Interest.
In addition, if you are married you may be able to utilise a portion of your spouse’s unused Personal Allowances
Still with me?
Money into property, remember that you can only claim interest allowance at 20% not 40% or 45%; plus your Wear and Tear allowance will reduce over the next 4 years being replaced slowly by an enhancement allowance.
So yes you can do your Self Assessment Tax Return if you understand the “New Simplified Forms” (Osbourne’s claim, not mine).
Accountant, Auditor and Tax Consultant; specialising in "Cloud" based Accountancy and Forensic Accountancy. Clients require advice on ensuring that their systems are fully "Making Tax Digital"…
