The 2017-18 tax return deadline for taxpayers who continue to submit paper Self-Assessment returns, is 31 October 2018. Late submission of a Self-Assessment return will become liable to a £100 late filing penalty. The penalty usually applies even if there is no liability or if any tax due is paid in full by 31 January 2019. We would recommend that anyone still submitting paper tax returns to consider the benefits of submitting the returns electronically.
We also recommend that if your Self-Assessment is outstanding for the year ended 05 April 2018 to get this completed at your earliest convenience so that you still have time to pay any tax owed before the deadline of 31 January 2018
Posted by Cassey Nixon on
28th September 2018
MTD for VAT to launch April 2019
The introduction of MTD (Making Tax Digital) for VAT will affect businesses with a turnover above the current VAT threshold of £85,000. These businesses will be required to keep digital records and provide regular digital updates to HMRC for VAT purposes using MTD for VAT. There will be some additional preparation time for a small number […]
Who should submit a Self-Assessment ?
There are a number of reasons why a taxpayer should complete a Self Assessment return. This includes, if they are self-employed, a company director, have an annual income over £100,000 and / or have income from savings, investment or property. Taxpayers that need to complete a Self Assessment return for the first time, should inform HMRC […]