TIME AND TIDE WAIT FOR NO-ONE

AND NEITHER DO HMRC !

Points To Remember

Don’t forget the HMRC Self-Assessment deadline for online submissions of 31st January 2017

You cannot file a self-assessment return without a Unique Tax Reference (UTR) number issued by HM Revenue & Customs (HMRC); this is sent in the post by HMRC and takes some time to come. It is issued at the point that you register as self-employed.

Not only do you need a UTR but if you want to file your return online you need to logon to the Government Gateway, and await an activation code from HMRC. It can take up to ten days to receive your activation code so don’t leave this until the last minute.

A fine of £100 will be automatically applied for any self-assessment not filed on time, regardless of how much tax may be due and even if you are just one day late!  Additional fines are imposed if the return is 3, 6 or 12 months late.

self assessment penalty charge

If you do file your tax return late HMRC may accept a valid reasonable excuse such as a serious illness or bereavement, but it is your responsibility to ensure that it is submitted on time and HMRC will not accept what they view as trivial excuses.

No matter how much you earn running your own business you still need to register with HMRC and complete a self-assessment return if you are self-employed.

You may need to complete a self-assessment tax return even if the tax due is nil or if you make a loss.

You could be deemed to be running your own business and be self-employed even if you think it’s just a hobby or something that you do in your spare time.

If you sell regularly on eBay you may be classed  as running a business and therefore be self-employed.

You will need to complete accounts and file a tax return up to the date that you stopped trading if you close your business down.

Even if you make a loss on renting out a property you still need to complete a self-assessment.

If you don’t send your tax return in on time HMRC may estimate the tax due and expect you to pay the amount demanded

THE CLOCK IS TICKING

Online Self Assessment Deadline 2018

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Tax is tough!

No matter how many times HMRC say otherwise, tax is tough!

 

Let Revell Accounting take the strain and calculate and submit your self-assessment tax return on your behalf. Our fees are reasonable and you can relax in the knowledge that it’s all being taken care of.

We can guide you through the minefield of self-employment, get you registered with HMRC, set you up through our clients’ Government Gateway, provide you with lists of information we will require, hold your hand through the whole process, produce your self-employed accounts, calculate your self-assessment tax and submit your returns.

We make sure that your tax affairs are accurate and up to date and that everything is submitted on time.  We can arrange easy payment terms for our fees, and our ongoing advice and support is included in your annual fee, so you never have to worry about costs spiralling out of control.

What do you have to lose?

Call us now on 01803 411101 or Contact Us to arange up a meeting.  Come along for a cup of coffee and a chat and take it from there – we look forward to meeting you.

Online Self Assessment Deadline 2018

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1st Floor, Hatton House, Bridge Road, Churston, Brixham, TQ5 0JL

 

 

 

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