Tax deadline for the 22/23 Financial Year

HMRC are expecting a Tax Return to be submitted for the 22/23 Financial Year by 31 January 2024.

This page provides some last-minute guidance on who needs to send a return – and details of our free webinars in January to support consultants with their accounts.

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Tax returns are not as scary as you might think. To put things as simple as possible, HMRC want to know how much your business has taken (income) and spent (expenses).

With these two numbers, they calculate how much your taxable profits are, and then apply the relevant Tax and National Insurance.

But you’ll need to get those numbers for them. And if you’ve left it to the last minute, don’t worry. Take solace that you’re not alone.

Do you need to submit a return to HMRC?

31 January 2024 is the deadline to electronically submit your Tax Return to HMRC.

HMRC have a standard ‘tax year’ which runs from 6 April to 5 April the following year. Once the year has finished, anyone who is self employed is required by law to submit a tax return covering this period, showing all business activity taken place – and the information has to be submitted to HMRC by 31 January the following year.

As such, for the period of 6 April 2022 to 5 April 2023, a tax return must be submitted electronically to HMRC by 31 January 2024. This is the current deadline which millions of UK self employed taxpayers must meet.

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Use our MalgraBooks Essentials package for last minute accounts.

If you need to submit a tax return for the 2022/23 financial year, our Essentials Package is ideal for you – providing step by step guidance on completing your return.

Our cloud accounting service provides everything you need to DIY your own accounts – and prepare the final figures required from HMRC.

Find out more about Essentials

Last Minute Accounts Webinar

We ran two webinars in January 2024 to help consultants get their returns ready.

Recordings of these webinars are available from the Help and Support section of your member dashboard.