Tallied Accountancy in Bournemouth are reminding everyone who is self-employed, received additional income that has not been taxed via the PAYE system or had more complex tax affairs in the tax year 2016/17 that you will need to file an online self-assessment tax return to HMRC.
The deadline for submitting the paper self-assessment has passed and if you missed it, your only option is to submit your self-assessment online. Don’t leave your online submission to the last minute because if your return is submitted late, you will receive an initial £100 fine and expose yourself to further penalties from HMRC. You must submit the self assessment even if you haven’t got any tax to pay. Last January 840,000 of UK taxpayers missed the online submission deadline and faced the fines. Don’t be one of them.
Last thing to remember: 31st January, 2018 is as also the deadline to pay any tax due for the tax year 2016/17.
TALLIED Accountancy are based in Bournemouth town centre and can be contacted on 01202 800088.