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Business company directors, the self employed and anyone else with "more complicated tax affairs" should make sure they meet the deadline at the end of this month for the self assessment tax returns, HM Revenue & Customs (HMRC) said yesterday.
Most applicable candidates will have received their return forms last April however, those with new sources of untaxed income or with new businesses should contact the HMRC as soon as possible to avoid a fine.
The January 31st deadline applies to people who are already in the system, which will be mainly those who receive a source of income where tax is not immediately deducted.
According to HMRC, more than nine million Self Assessment tax returns have been issued. However, last year around one in ten people failed to send in their return by the deadline.
A spokesperson for HMRC said: "If youve got a new business and you havent told us about it within three months then a separate £100 penalty could apply, because you havent followed the registration process."
"Weve got a podcast out on our website that goes through the process of filling in a return, an introduction to Self Assessment online and the usual Self Assessment helpline number."
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