Tax return time

Looking forward to a free weekend on 25 and 26 September? Perhaps you were thinking of watching the ICC Champions Trophy final, the Chinese grand prix, or Man City v Arsenal? Tax advisors Ernst & Young says: "Don't". That weekend is your last chance to put aside some time to fill in your self-assessment return before the 30 September deadline.

Paul Knox, of Ernst & Young, said: "Of course you could put all this tax return stuff off till January. But, if you get the return to the Revenue by 30 September they will do your tax calculation for you and guarantee to tell you how much you owe before the 31 January payment deadline. There's no messing about with estimated payments, or interest, and best of all, no need to try to understand the tax calculation guide that comes with the return.

"If you think you only have a small amount of tax owing, you can also ask the Revenue to collect this from your next year's salary, giving you a bit of a cash-flow advantage - something you cannot do after 30 September. And don't forget that if you think you are due a tax repayment, the sooner the return is filed, the sooner the repayment can be made."

Ernst & Young advises here's what you need to do:

• 1. Open the plastic-packed return the Revenue sent you in April.
  
• 2. Check you have all the correct supplementary pages - employment if you're an employee, self-employed if (you've guessed it), capital gains etc.
  
• 3. If you need extra supplementary pages, ring the self-assessment helpline (0845 900 0444).
  
• 4. Then make sure you have all your records with you - employees will need a P60 (showing earnings paid and tax and NIC deducted) and P11D information (showing benefits in kind); if you have shares you will probably have received dividends; most people have interest income from their bank or building society.
  
• 5. Go through the return form and check you can fill in all the necessary boxes (you might start by pencilling in the figures); if not, find the missing records, or ring the helpline if you need an explanation.
  
• 6. When you are sure you're ready, fill in the return in ink.
  
• 7. Breathe a sigh of relief: you've finished in time to watch Portsmouth v Everton. Not much of a treat but the satisfaction of a job well done and out of the way will keep you smiling for days.