Self Assessment Deadline and the Self-Employed
31st January, the deadline for online tax returns for most self-employed people is fast approaching.
If you are one of those people that carries out a self-assessment process you are reporting on the last tax year, so at this stage there is not much you can do to mitigate the bill. You can, however ask yourself if there was more that you could have done. Did you pay enough into your pension fund? The good news is that you now have just over 2 months to contribute more into your pension in this tax year. This will help you to reduce your tax return on 31st January 2019 and should produce better retirement outcomes in later life.
If you need more information on being self-employed and having a pension, please see our Spotlight or call our self-employed helpline on 0345 602 7021