As the 2019/20 financial year has ended, it is time for your income tax return to be filed. Your Income Tax return will be filed as part of the Hnry service, all we need you to do is review and submit the 019/20 financial year annual review form on your Hnry Dashboard.
This guide will take you through the process of completing the form:
It should take you no more than 5 minutes to review and submit the form. You can also save the information and come back to it later if need be.
2. Confirm Details
On this page you will need to check that your personal details are correct. If you need to make any changes to your home address or phone number, you should do this and then click either ‘Save progress’ or ‘Save and continue’.
NB: You must indicate if this is your first year of self-employment or not so we can ensure we get you the appropriate tax credits if applicable.
This page shows a summary of all your earnings between 1 April 2019 and 31 March 2020. This information here is taken from IRD and your Hnry profile so you need to review this to make sure it's correct. If you need to add any additional income sources, you can do this here.
Important Note: If you add any additional income sources that weren't declared on your Hnry profile, these won't have been taken into account when calculating your income tax rate. This means you will likely have tax owing when you Income Tax return is filed.
The business expenses that you have raised in Hnry are shown on this page. If you need to add any additional expenses that you incurred in the 2019/20 financial year, you can add these here as total amounts under each of the appropriate categories, and we will work out the claimable amounts for you. You will be required to hold onto any receipts for expenses claimed via this form for 7 years as per IRD requirements, in case they choose to audit you.
5. Income Forecast
When you get to this page, there are two questions for you to choose between. If you are going to be earning self-employed income in the 2020/21 financial year then click 'I will earn income through Hnry'. You will then be able to enter in information about any other sources of income you are going to earn during the 2020/21 financial year.
If you are not going to be earning any self-employed income in the 2020/21 financial year, and/or you no longer plan to use Hnry going forward, you should click "I won't earn income through Hnry".
6. Final Check
Before you submit the form, you need to tick the checkbox for any of the options that are applicable to you and provide any additional information required. If you are unsure about any of the options, you can contact the team for more information.
Now all you need to do is submit your form and we will be back in contact once your 2019/20 Income Tax return has been filed. Please be aware that we have thousands of returns to file so we will process yours as soon as we can.