New look Tax Returns are now being issued

If you are one of the millions of people who receive a self assessment tax return from HM Revenue & Customs (HMRC) each year the thud on your doormat should be slightly quieter this year. This is because the form has been revamped with the basic form reducing in size from 12 pages to six pages and the accompanying notes reducing from 38 pages to 27 pages.

The new look forms started being issued last week following a two year pilot involving more than 7,000 taxpayers (or customers as HMRC would say).

The main changes to the return are as follows:

• There are fewer questions, simpler language and an improved layout
• A new page for additional information – for questions completed by relatively few people about less common types of income and reliefs
• A new short, self-employment page - a two-page form with fewer boxes to complete for smaller, straightforward businesses with an annual turnover below £64,000.
• An increased 'three line account' threshold - the limit for completing simpler, abbreviated accounts information has been doubled to £30,000.
• Reordered questions - a person's main source of income is now at the front of the return, rather than the end, ensuring customers answer questions most relevant to them first.
  
  If you are planning to file a paper return, please note that from this year paper returns must now be filed by 31 October, while the deadline for online returns remains at 31 January.
  
  If you would like any assistance completing your self assessment tax return or you do not understand why you have been sent a form please get in touch with your usual Hazlewoods tax contact or click here