... and five self-assessment tips that could SHRINK your bill

REMEMBER you can claim tax relief on contributions into registered pension schemes through your self-assessment tax form. DO NOT forget charitable giving – missing out gift aid donations is a common mistake. Keep records of gift aid payments. If you pay tax at the higher or additional rate you can claim tax relief for the difference between the tax rate you pay and the basic rate on your donations. READ through and double check your form before you submit it online. Compare it to last year’s form to make sure you have not forgotten anything. If there have been significant changes to your tax affairs use the additional space boxes to explain things to the Revenue. This should prevent the tax office writing to you to check you have not made a mistake. SAVE a copy of your return and the receipt of when you submitted it to the Revenue. Keep all documentation used to complete the form in a safe place. The Revenue can ask to see this documentation for up to 22 months for individuals or five years and 10 months for business owners and landlords letting out property. IF after you file your return you realise you have made a mistake do not panic. You have up to 12 months from the end of January to correct any mistakes. This is called an ‘amendment’ and gives you until January 31, 2019 to make a correction.