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The loan charge deadline is approaching

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Brian G. Lonis & Co supports many clients so they stick to important deadlines. This is one of the main reasons we are a top name for tax returns Camden can trust. Our work helps clients to avoid major issues, including penalties for failing to submit details on time.

There is a very important deadline at the end of September to be aware of. Anyone who has received a loan charge must submit their 2018/2019 tax return by the 30th. If they fail to do so and do not agree a settlement, they can face a big penalty.

A controversial charge

Tax returns CamdenThe loan charge is very controversial. When HMRC first announced it, the requirements were criticised for being far too extensive. Initially they were demanding large sums and not giving people much time to make the payments. Sadly, several people who received loan charge bills died. As a result, the government had to rethink and soften their stance.

One of the things the government did was relax the deadline for the submission of tax returns and agreeing loan bill payments. Initially the date for this was January 2020. However, the reforms to the charge pushed this back to September.

A strict stance

The Government is unlikely to budge on their stance regarding the current deadline for the end of this month. Therefore, it is important to submit information and speak to HMRC about a payment plan before then. Failing to do so may mean you receive extra penalties or a worse offer if you try to negotiate afterwards. HMRC could even demand the whole amount you owe, plus the original loan.

Tax returns in Camden

Brian G. Lonis & Co understands that it can be tricky to complete a tax return. Doing it incorrectly can also result in lots of issues, including fines. Luckily, we are here to help. Our team can take care of it for you, ensuring the information you submit is accurate. Our charges are great and we offer the best support too.

If you need to take care of tax returns, Camden has nobody better than us. Get in touch with our team and we will arrange an appointment for you.