Self Assessment Deadline (31st January 2020)

Accountancy & Tax services will help, who is self-employed, received additional income that has not been taxed via the PAYE system or had more complex tax affairs in the tax year 2017-18 that you will need to file an online self-assessment tax return to HMRC.


The deadline for submitting the paper self-assessment Tax Return is 31st Oct 2018 and if you miss it, you have only option is to submit your self-assessment online by 31 January 2019. If you Tax Return late or you miss deadline for 31 January 2019, you will receive an initial £100 fine and again further penalties from HMRC. You have to submit your self-assessment even you haven’t any tax to pay.
At Accountancy & Tax Services, we are in the business of creating an environment free from hassle and stress, so that we can assist you in filing for tax returns and rebates. At a fixed fee, you can avail of a comprehensive tax return package,that has no hidden charges. Our cumulative experience in the field has helped us simplify the tax filing process, such that any issues can be ironed out swiftly.
Personal Allowance
2017/18 2018/19
Personal Allowance – The amount of salary you can take tax-free every year £11,500 £11,800
Income limit for Personal Allowance – The level of earnings at which the Personal Allowance reduces. For each £1 in earnings above £100,000, you lose £0.50p of Personal Allowance. In 2018/19, you don’t receive any personal allowance when you earn over £123,700 (2017/18 equivalent is £123,000). £100,000 £100,000
Income Tax
2017/18 2018/19
Basic rate – The lowest level of income tax 20% on earnings up to £33,500 20% on earnings up to £34,500
Higher rate – The middle tier of income tax 40% on earnings above the basic rate up to £150,000 40% on earnings above the basic rate up to £150,000
Additional rate – The top rate of income tax for high earners 45% on earnings above £150,000 45% on earnings above £150,000
Dividend Taxes
2017/18 2018/19
Dividend tax-free allowance £5,000 £2000
Dividend ordinary rate – The lowest rate of tax on dividends 7.5% on earnings up to £33,500 7.5% on earnings up to £34,500
Dividend upper rate – The middle tier of tax on dividends. 32.5% on earnings above the basic rate up to £150,000 32.5% on earnings above the basic rate up to £150,000
Dividend additional rate – The top rate of income tax for high earners. 38.1% on earnings above £150,000 38.1% on earnings above £150,000

National Insurance

Employee National Insurance contributions
2017/18 2018/19
Weekly Annually Weekly Annually
Lower earnings limit – Earnings below this limit will incur no NICs £113 £5,876 £116 £6,032
Primary threshold – Earnings below this limit will incur no NICs £157 £8,164 £162 £8,424
Upper earnings limit – Earnings above the Primary threshold and below the Upper earnings limit will be taxed at 12%. £866 £45,000 £892 £46,350
Any earnings above the Upper earnings limit are taxed at 2%
Employer National Insurance contributions
2017/18 2018/19
Weekly Annually Weekly Annually
Secondary threshold – Income above this threshold will incur Employer NICs at 13.8% £157 £8,164 £162 £8,424
Minimum Wage Rates from 1 April 2018
YEAR 25 AND OVER 21 TO 24 18 TO 20 UNDER 18 APPRENTICE
2018 £7.83 £7.38 £5.90 £4.20 £3.70
2017 £7.50 £7.05 £5.60 £4.05 £3.50

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