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


The number of self assessment tax returns which were submitted to HM Revenue & Customs on Christmas day and Boxing day increased substantially this year. In 2009, the number of tax returns submitted on Christmas Day was 620, increasing to 845 this year. Boxing Day saw even more tax return submissions, with 2,408 being filed online.

As the deadline for the submission of online tax returns approaches, many businesses struggle to find the time to complete and file their returns, leaving them at risk of receiving a £100 fine. As most people, including business owners, take time off at Christmas, it is often the only time available for completing their tax returns and preparing accounts, rather than spending time with loved ones. A low cost accountants would leave business owners, including sole traders and limited companies, with more time to spend on other aspects of their life, whilst maximising income.

According to experts, approximately 10 percent of people miss the deadline for filing their tax return, with £116 million being paid to HMRC in late filing penalties. A further £310 million is expected to be paid as a result of tax owed being miscalculated. Any tax which remains unpaid from earlier years will also attract penalties, with added interest. For some business owners, it is preferable to miss out on festive celebrations than risk penalty payments and fines, which can add up to £60 each day.

Online accountancy firms work hard all year on your behalf to ensure that your self assessment tax return is completed accurately, in a timely manner, eradicating the risk of additional costs being incurred.

About The Author

Gary Fields

Content Writer working alongside our expert accountants to bring you the latest Tax and Accounting news.

More posts by this author
Inline Feedbacks
View all comments

Read more posts...

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

June 2022 Client of the Month: Manea Kella

This month we spoke to Adrian Manea, architect and director at Manea Kella, a London based RIBA Chartered architecture and interior design…

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.


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

Would you prefer to complete your own bookkeeping?


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