Starting a new business? Get 40% off our accountancy services for 3 months! 😀

x

Midnight on 31st October 2010 is the deadline for completing and submitting your paper copies of self assessment tax returns. Failure to do this will result in a penalty of £100 which is charged automatically. For partnership returns you will face a penalty of £100 for each partner. There are only two occasions when you can file your paper return later than 31st October and they are very rare occurrences. The first reason for not filing on time is if you receive your notice to file after 31st July, which means you will have three months to file from the date you received the notice. If there is no software available for you to file online, such as Non-Resident Companies, you will be given until 31st January to file your return online.

There are many important dates to remember throughout the year, and missing certain deadlines will mean that you incur a huge penalty and could also incur interest on that penalty. Employing an accountancy firm to deal with your administration will avoid any unexpected bills or have to rush and complete your tax return at the last minute.

There are some reasons that will be accepted by HM Revenue & Customs for filing a late tax return, but the reasons must be exceptional before being considered. You will also be expected to provide proof that you had started to prepare your return before the deadline. To ensure you meet your October deadline for your self assessment return, hire a cheap accountants firm to deal with your return on time, avoiding unnecessary penalties.

guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

Umbrella Companies for Self-Employed Contractors

When you set up in business as a contractor you might either work as a sole trader or as a limited company….

Read More

Get Ready for Small Business Saturday UK 2022

Small Business Saturday started in the US in 2010, on the first Saturday following Thanksgiving. It aims to encourage shoppers to consider…

Read More

Architects and Tax

Architecture is a highly diverse sector when it comes to tax. It’s partly down to the type of businesses that carry out…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?

Yes
No

Call us on 020 3355 4047 if you’re not sure.