Self Assessment Tax Return 2024-2025

Self-Assessment Tax Return 24-25

As we approach the end of the Tax Year 24-25 (Period 6 April 2024- 5 April 2025)

There are some tax reliefs available

1)

Private Pension Contributions results in more taxes due at the Basic Rate

(Even through a Ltd Co this is an allowable as an expense to reduce the Corporation Tax)

Please speak 🗣️ Ray Tammam - IFA who can assist with the Pension Arrangements

2) Donations

If you donate to registered UK 🇬🇧 Charities and tick the box gift Aid then some of a Taxpayers taxes will be claimed by the Charity and more taxes will be paid at the Basic Rate saving taxes

3)

A)

As an Employee a Taxpayer can claim the Subscription costs (The list is on HMRC of the Registered Authorised Bodies)

(Although there is an option to ☎️ ring HMRC 03002003310 to adjust the Tax Code to reflect the Subscription costs)

B)

Mileage can also be claimed if not reimbursed fully by the employer

As a Self Employed always ensure that the expenses 💲 that are

Wholly

Necessarily

Exclusively

Incurred are taking into account along with any Capital Allowances

If you require further advice or assistance, please feel free to reach out