How often have you sat down to do your tax return and then a pressing business matter rears its head which needs immediate attention? Nobody enjoys filling in a tax return, so it often gets pushed to the bottom of the pile until it can't be ignored any longer.
There are a number of different deadlines every year for filing a self-assessment tax return, depending on the method you choose to complete it. Whichever route you take though, the deadline always approaches with alarming rapidity.
If you're filing online, you have a bit more breathing space as the deadline isn't until 31st January 2020, but if you're intending to file a paper tax return, the HMRC deadline is midnight on 31st October 2019.
There are a number of reasons why it's a bad idea to leave your tax return until the last minute:
Penalties for late filing are severe:
These penalties are for late filing only, and there are further penalties and interest for any late tax payments.
You'll feel a huge weight off your mind when you finally send off your tax return, so why not make a firm decision to tackle it this week? If you need guidance or want to unload the burden onto a professional expert, get in touch and let us deal with it all while you concentrate on running your business.
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