Self-assessment tax return deadline looms
The deadline for submitting the 2016/17 self-assessment tax return is fast approaching.
The final date by which you must complete your self-assessment tax return is midnight on 31 January 2018. Those that miss this deadline will receive a penalty of £100, even if there is no tax to pay. Further penalties will be issued for continued payment failures.
Last year, a significant number of individuals chose to use the festive break as an opportunity to catch up on paperwork.
6,214 individuals submitted their self-assessment tax return online on Christmas Eve, while 1,944 submitted their return on Christmas Day.
A further 6,200 taxpayers filed their tax return on Boxing Day. This number proved to be significantly higher when compared to the same period the year before.
As your accountants, we can assist you in preparing and filing your self-assessment tax returns. We can also advise you on any payments due. Please contact us for help with your tax and accounting needs.