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If you are one of the 9.3 million people who get a self-assessment tax return, you are required by law to fill it in correctly and on time, and to pay the right amount of tax by the due dates. Last year, nearly one in three tax returns contained errors, one in ten people paid their tax late, incurring interest and surcharges, and the Inland Revenue received a windfall of £89 million in fines from the 900,000 or so taxpayers who missed the filing deadline.
The Lloyds TSB Tax Guide will help you minimise your tax bill and avoid unnecessary penalties. It is designed to make a daunting task as easy as possible and save you tax at the same time. Written in plain English by experts, the 2005/06 edition is up-to-date with all the March 2005 Budget changes.
The book provides a step-by-step guide to completing the self assessment forms, offers many tax-saving ideas, and provides guidance on tax credits and tips on tax-efficient investments, including the new child trust fund and proposals affecting pension savings. 1