HM Revenue & Customs (HMRC) has announced today that more than three million UK taxpayers are yet to file their online self-assessment tax returns for the 2016-17 financial year.
There is just one week to go until the 31st January deadline and millions of self-employed professionals and entrepreneurs are running the risk of an immediate £100 late filing penalty – even if they don’t owe any tax.
Furthermore, those who continue to delay their self-assessment submissions will be hit with additional, unnecessary fines.
Angela MacDonald, Director General of Customer Services, HMRC, said: “The seven-day countdown to 31st January has now begun.
“Put a stop to that niggling feeling and do your Self-Assessment now. Our helpful online services offer support and advice so you can complete your tax return quicker than you think.”
Not only must self-assessment tax returns be filed online by 31st January, any tax owed from the resulting return must also be paid by this date.
If you’re a time-poor business owner that’s struggling to prepare and submit your self-assessment tax return, your local TaxAssist Accountant can help. They can complete and file the tax return online on your behalf – with any available tax savings included – calculate your tax liabilities and liaise with you on the amounts to be paid.
Their swift, professional service can help you avoid HMRC penalties and unnecessarily losing some of your hard-earned cash in fines and penalties.
With just a week to go until the 31st January deadline, don’t delay in getting your tax affairs in order. Make an appointment with your local TaxAssist Accountant today by calling 0800 0523 555 or you can drop us a line using our online enquiry form.