At the start of 2023, almost 5.7m people still had not filed their 2021-22 tax return – close to half of the total number of taxpayers expected to do so.
Instead of postponing the inevitable, here we leave you with some top tips from consumer body Which? to help you avoid incurring penalties and even shave money off your tax bill.
1. Make the most of reliefs, expenses and allowances
Take full advantage of tax reliefs, expenses and allowances that might be available – as they can significantly reduce your bill. For example, self-employed workers are able to deduct legitimate business expenses from their taxable income, including travel, uniforms, office running costs, and the cost of business – including energy bills.
Higher-rate or additional-rate taxpayers who have made Gift Aid declarations when giving to charity can claim back the difference between the basic tax rate and the rate you …