So, we are coming towards the end of November and the weather has finally turned colder (I forgot how much I despise having to de-ice the car in the morning!) The drop in temperatures however, ironically comes at a point when some people start to get hot and bothered about their Self Assessment tax returns!
For the tax year 2013/14 there were a total of 10.24 milion tax returns submitted to HM Revenue and Customs, with the two busiest days being…you guessed it, 30 & 31 January – with a total of 979,256 online filings (or 9.56% of the total submissions!!)
So one in 10 will leave it until the very last minute, and I am sure there are many people who are comfortable with this procrastination and feel no need to do it earlier. I suspect though, that there are also a large number of people who simply put off filing the return because it is something they dread!
Any returns filed after the 31 January 2016 deadline will be subject to a penalty. A £100 penalty for late submission of the Self Assessment return applies even if taxpayers have no tax to pay or have paid any tax due on time.
In addition the following penalties applies to Self Assessment returns that are filed late:
- From 3 months late: taxpayers will be charged an automatic daily penalty of £10 per day up to a £900 maximum.
- From 6 months late: taxpayers will be charged additional penalties which are the greater of 5% of tax due or £300.
- Over 12 months late: there are additional penalties based on greater of 5% of tax due or £300. In serious cases this penalty may be increased up to 100% of tax due.
My question therefore is, “Why not get Colmer Winchester to do it?”
- Avoid needless filing penalties
- Be reminded of how much to pay, how to pay and when to pay well ahead of any deadlines
- Ensure you are not paying a penny more in tax than you should be!
At Colmer Winchester we can take away all the stress and worry about your personal tax return, ensuring the return is filed correctly and on time avoiding any penalties, from as little as £100+VAT. This means you can concentrate on enjoying the Christmas and New Year period without having that nagging worry about your tax return in the back of your mind!
Please get in touch with us on 01235 364770 if you want to take away all the pressure and worry of your tax return – and ensure you get to enjoy your Christmas!