For those individuals who have previously submitted ‘paper’ self assessment tax returns the deadline for the 2013/14 return is 31 October 2014.
Returns submitted after that date must be submitted electronically or they will incur a minimum penalty of £100. The penalty applies even when there is no tax to pay or the tax is paid on time.
BUT, if this does apply to you, we would suggest you don’t rush to file a paper return and risk making a mistake and incurring additional penalties. We file 100% of our clients’ tax returns electronically, which is HMRC’s preferred approach. More than that, we file them way ahead of the 31st January deadline, ensuring our clients have plenty of time to plan their payments and get on with things which are more important to them, rather than scrambling around at the last minute!
At IN Accountancy we have already completed and electronically submitted more than 90% of our clients’ tax returns – if you would like any help with yours, or would like to get ahead of the game, please give us a call on 0161 456 9666 or drop us a line… askus@in-accountancy.co.uk
