As the end of financial year approaches, we just wanted to give you a heads up on what you can expect for this year's tax filing, and some key points that you need to know about.
If you've chosen to have your filing done outside of Hnry, there's some additional useful information for you at the bottom of this article.
- Towards the end of April/start of May 2020, you will receive a notification from us that your Year End form is available for you to review and submit (this form will appear at the top of your Hnry dashboard)
- The form will automatically display any income earned via Hnry, as well as approved expenses and any other earnings declared to IRD throughout the year (e.g. PAYE salary, Investment Interest etc), so you won’t need to worry about any of that
- Once you review and submit your form, that allows us to get on and file your return for you and we’ll send you a confirmation once that has been done - it's that simple!
What We Need from You
- If you are holding on to any expense receipts that you have not yet loaded into the Hnry system, these need to be entered no later than 17th April 2020 to give the team time to review and approve prior to your Year-End form being generated and sent to you
NB: For any donation receipts and/or Investment Dividend statements not received by 17th April, you can provide us with the details on your Year-End Form rather than uploading into the system for review
- There is no need to raise Business Expenses for Hnry Fees, ACC payments and/or Insurance fees paid through Hnry as we will claim these for you automatically
- Credit balances showing in IRD are your pre-paid taxes. Do not ask IRD to refund these as you will just need to pay it back to them once we have filed your Income Tax return
- Unless you absolutely want to, please don't be tempted to file your own Income Tax return – we’ve got you covered!
However, if you've chosen to have your filing done outside of Hnry:
It's absolutely fine if you've made separate arrangements to have your filings done for you outside of the Hnry service. And there's still some important information that you should know about:
- As you've indicated that you don't need Hnry to file your return for you, from the 1st of April onwards, your 2019/20 Financial Statement will be available for you to download. This statement can be found on your Hnry Dashboard under ‘My Account' > 'Reports’
- The statement will include just the income and expenses raised through Hnry so you will need to add any other income sources that you may be declaring in your Income Tax return
- NB: please make sure that any pending expenses in the system have been approved prior to you downloading this report, otherwise it will not be up to date
- If your circumstances change and you would like us to file your tax return for you, then please let us know prior to 31st March 2020.
As always, if you have any questions please do not hesitate to get in touch with the team by emailing firstname.lastname@example.org!