End of Year Tax Return

Question asked by Graham Neale Robinson 2 months ago

Just wondering if anybody can help.

I am ready to finalise my 2025/26 tax return apart from declaring my interest from my savings, I notice in the final return their is a place to enter this, but I am sure I read somewhere that HMRC will automatically show interest I have paid on some if not all my savings accounts, does anybody know if this is correct or if I have to enter the interest manually ? If HMRC will show it automatically I guess I will just have to be patient.

Also if somebody from clear books could please let me know when they expect the end of year tax return submission to be available for use, or is it already available ? and if so what do i need to do ?

Thanks

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2 Replies

Hi Graham,

It is correct that HMRC automatically populates some year-end information that they gather throughout the year. This includes tax deducted from bank interest or dividends when it has been reported to them. In your Clear Books MTD Tax Return account, you will be able to review this pre-filled information. If any interest has not been captured automatically by HMRC, you can enter the interest manually to ensure your final declaration is accurate.

The Making Tax Digital Tax Return functionality is available now for the current tax year to help you preview your return and see estimated tax figures. With the tax year having only just ended, we are currently working to ensure the HMRC tax calculations that we are now starting to receive, are complete and accurate.

To avoid users finalising their tax calculation incorrectly, we will enable the finalisation of the MTD tax return as soon as this process is complete. Also please note that there are a few unreleased features related to self employment or property income sources, that you may need to use to ensure your self employment or property profit is accurate, before you finalise your tax calculation. For example manual income and expense adjustments, capital allowances and other profit adjustments. We plan to release these later in April or early May.

Tommy

Best answer
2 months ago

Hi Tommy,

Thanks for your answer, I will be a bit more patient.

2 months ago

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