Self Assessment Tax Returns
If you're dreading going through that pile of paperwork but you know that it must be done, then let us take the strain and get it sorted for you! The deadline for your April year end taxes is the following January, so there is ages to get it done, right? It doesn't always feel like that, you put it off and then all of a sudden the Christmas rush is over and it's deadline time. You still have that pile of receipts and paperwork that need sorting. The return can be filed any time from the May and you still don't have to pay until the January deadline but imagine having months to plan that payment and knowing well in advance how much your tax bill is going to be.
Just get in touch and talk to one of the team and we will take care of everything for you.
Time to get it sorted!
Deadlines & Fines
Year ending 5th April 2020 is due with HMRC via Online filing by 31st January 2021. Paper filing deadline is 31st October 2020 (but we wouldn't recommedn paper filing!)
Fines for late tax returns
1 day late - £100 for one day after deadline Up to 3 months late - £10 for each additional day (capped at 90 days), on top of £100 initial fine - maximum of £1,000 6 months late Either £300 or 5% of the tax due (whichever is higher), on top of the penalties above 12 months late - An additional £300 fine, or 5% of the tax due, on top of above penalties. In the most serious cases, you may be fined 100% of the tax due - doubling your bill