{"id":2838,"date":"2019-01-18T13:23:14","date_gmt":"2019-01-18T13:23:14","guid":{"rendered":"http:\/\/www.bainesjewitt.co.uk\/blog\/?p=2838"},"modified":"2019-01-18T13:23:18","modified_gmt":"2019-01-18T13:23:18","slug":"can-you-save-more-than-355-on-this-years-self-assessment","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/can-you-save-more-than-355-on-this-years-self-assessment\/","title":{"rendered":"Can you save more than \u00a3355 on this year\u2019s self-assessment?"},"content":{"rendered":"<p>Self-employed taxpayers may be failing to claim on average \u00a31,687 in tax-deductible expenses, a new report has revealed.<!--more--><\/p>\n<p>Which?, the consumer publication, said failing to claim all of your expenses when submitting your tax return could cost you a \u201chefty sum\u201d.<\/p>\n<p>The report has been published ahead of the 31 January 2019 self-assessment deadline.<\/p>\n<p>According to Which?, taxpayers on average could claim \u00a3600 for their fuel expenses, saving \u00a3120 on their tax bill (or \u00a3240 for a higher-rate payer). Likewise, phone costs, car servicing, car insurance and use of the home office could amount to \u00a3450, \u00a3303, \u00a3126 and \u00a3208 respectively.<\/p>\n<p>If none of the above expenses were claimed, Which? suggests that taxpayers could be overpaying by an average of \u00a3355 on their tax bill if they are basic-rate payers.<\/p>\n<p>What\u2019s more, if you own a business premises, taxpayers can claim on costs for heating, lighting, cleaning, water rates, rent, business rates and general maintenance, adding up to significant savings.<\/p>\n<p>The Institute of Chartered Accountants in England and Wales (ICAEW) recently warned self-employed workers not to leave their tax return \u201cto the last minute\u201d.<\/p>\n<p>Anita Monteith, ICAEW Technical Tax Manager, estimates that some 5.5 million have yet to file their annual self-assessment return ahead of the 31 January 2019 deadline.<\/p>\n<p>She added that those leaving their tax return until the very last day risk automatic penalty fines.<\/p>\n<p><strong>For urgent help and advice completing your tax return, please get in touch with our expert team.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Self-employed taxpayers may be failing to claim on average \u00a31,687 in tax-deductible expenses, a new report has revealed.<\/p>\n","protected":false},"author":2,"featured_media":2840,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,28,40,41,7,27],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2838"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=2838"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2838\/revisions"}],"predecessor-version":[{"id":2839,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2838\/revisions\/2839"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media\/2840"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=2838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=2838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=2838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}