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HM Revenue & Customs have issued a reminder to taxpayers to register to file online to avoid a late filing penalty. Anyone who has not yet completed and returned their 2009-10 self-assessment tax return will have until 31st January 2011 to do so. Late submission will result in a fine of £100 plus interest on late payments. The deadline for registering to with HMRC to file online is 21st January 2011 to allow time for your activation code and user ID to reach you by post.

It is possible to register online, allowing seven days to receive the user ID and activation code, giving you just enough time to file your tax return. HMRC are trialling a service which sends reminders by text message, to prevent taxpayers from missing the deadline for filing. These text message alerts will be issued to anyone who missed the deadline previously and incurred a penalty.

A small business accountants or low cost accountants will ensure that you have your tax return and accounts prepared in plenty of time, especially if you are not organised or are unsure of the regulations imposed by HMRC. Online accounting allows you to submit documents in real time, so that your accountant can complete your tax return with actual information rather than using estimates. Dealing with administration can be a headache for a small business, which is why online accountancy is a timely solution, helping you to stay ahead of deadlines and remain in control of your finances.

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