Following the recent revelations about tax which came out of the leaking of documents by Mossack Fonseca, MP’s from all parties have been keen to publish details of their tax returns. One of the interesting facts was that Jeremy Corbyn filed his 2015 tax return late, in early February 2016 (and on paper too; the deadline for this was 31 October 2015).
When asked why Mr Corbyn – who was elected leader of the Labour party in September 2015 in a shock result – had filed his return
late, a senior Labour spokesman said: ‘He did have a pretty busy few months last year. He does his own tax return. He doesn’t have an accountant.’
This raises a good point.
Although there is a large window of time to file a tax return (the deadline for the 2016 tax returns is 31 January 2017 if filed online), you never know what life will throw at you. When Mr. Corbyn ran at the 2015 General Election in May 2015, he probably thought that he would have plenty of time to complete his tax return, not realising that he would be leader of the opposition 4 months later. Therefore, it is always better to get your tax affairs dealt with sooner rather than later.