Martyn Bramwell, our Tax Department Manager has warned that time is running out for self-employed business owners to submit their latest tax returns.
Martyn said with less than a week to go before the January 31 deadline for online submissions, a third of tax returns had still not been completed.
“The clock really is ticking and anyone planning to file a return will really need to get a move on now – it’s worrying that figures show just over three million self-assessment tax returns have yet to be submitted.
“Self-assessment customers can submit their returns through their personal online tax account, but if you’re submitting it online for the first time you’ll need to register, and it can take several days for the registration to arrive in the post.
“And anyone who fails to submit their tax return in time for the deadline will get a £100 penalty – even if they don’t owe any tax.”
Martyn also said around eight million people had already filed their return for 2016/17 but those who were yet to complete their self-assessment were cutting things very fine.
And HM Revenue and Customs have echoed the warning from Dyke Yaxley, calling on customers to act fast.
Angela MacDonald, HMRC director-general of customer services, said:
“The seven-day countdown to January 31 has 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.”
Pictured: Martyn Bramwell – Tax Department Manager