October is over and as we get further into the year, one important thing to remember is the 2017-2018 tax returns London clients must complete. If you ever need assistance or advice, we are more than happy to help you.
Missing The Date
We are under 100 days away from the digital deadline of 31 January. However, we have already passed the one for paper returns on 31st October. If you happen to submit a late return on paper, this will incur a fine of £100. If you wait even longer and file a form more than three months after the deadline on 31 January, you will face an extra £10 per day charge by HMRC.
Digital
To avoid late payments you need to stay organised and remember your dates. However if you missed the October deadline and do not wish to submit a late return on paper, you can complete one online.
This option will allow you to avoid the penalty charge so long as you remember the new deadline date. Both paper and online returns that are still outstanding after 6 months past the submission dates will incur further charges. This will either be an extra £300 or 5% of the tax liability on the return, whichever is higher.
Need Some Help?
Filling in a tax return is a daunting task, especially when it is your first one. Below we have included some tips to help you with paper returns even with short notice.
Papers
It is always easier if you have everything you need on hand before you start. This will help you save time and avoid errors, so ensure you collect it all.
Check
Numbers need to be correct with something like this. An error may be due to simple misreading but a look over before you sign can help. Also, be sure to keep a copy for yourself before you send it off.
Call On Us
At Brian G Lonis, we offer services for tax returns London can always call on. This allows you to receive expert help so don’t wait and contact us today.