With the tax season firmly upon us and the deadline for paper filing now passed, it is essential you take action now to ensure you do not miss the final filing deadline of 31st January.
HMRC impose separate penalties for non-filing of a tax return and failure to pay the actual tax due. So even if you are unable to settle any tax liabilities owing, it is still essential that you file an accurate tax return on time in order to avoid instant automatic fines and potential daily penalties for non-filing. Our construction accountants can help with this.
Behavioral assessments can be made for failure to file your tax return on time, if your behavior is considered to be deliberate, it may also be construed that you are actually concealing and withholding information and in these instances additional penalties of 100% of the tax due can be imposed.
If you have received notification to file a tax return, whether you are a sole trader, company director or simply have additional untaxed income, savings or gains, we are able to assist you with your statutory obligations and ensure you are claiming all reliefs and exemptions available to you.