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Self Assessment are your ready?

The online filing date for self assessments is 31st January, so make sure you have everything filed to avoid late filing penalties!

If you need help or advice with working out your finances and filling out your return, get in contact with us today. Our team of experienced accountants can help advise you on what is needed and how much it will cost.

As the deadline for self-assessment tax returns fast approaches each year, HM Revenue & Customs (HMRC) are geared up and waiting for the deluge of millions of documents to come flooding into their offices and digital submissions to hit their accounts.

Remember that if self assessment tax returns are not in by 31 January, millions of people will face a £100 fine if they do not get their forms in before the midnight deadline. Don’t be one of them!

However, don’t panic if you are one of those people who tends to procrastinate over their self-assessment submissions and always leaves it until the last minute. We are here to help take the stress out of the process for you, so whether you are simply too busy with your business to spare the time to complete your assessment, or you find the whole process confusing, we can help. Just give us a call on 0207 566 3939 to chat to one of our friendly team members, or alternatively fill out our contact form here, and one of our advisors will get back to you very quickly.

It is better to be safe than sorry, and although it is a very British trait to leave things until the last minute, getting your self-assessment submitted in plenty of time can really take the weight off your shoulders. Did you know that figures from HMRC shows a massive 569,847 self-assessment tax returns came in on the deadline date in 2014?

I don’t know about you, but I don’t want to cause myself any undue stress by leaving it so late just in case something happens at the last minute that may prevent me submitting on time. What if you fall ill or your internet goes down? Yes, there may be lots of genuine reasons for not meeting the deadline date, but most are preventable by submitting self-assessment returns in plenty of time instead of risking it by leaving it so close to the deadline.

Here are some prime examples submitted to HMRC of excuses given for missing the 31st January deadline: (Taken from the HMRC website).

1. My pet dog ate my tax return… and all the reminders.

2. I was up a mountain in Wales and could not find a postbox or get an internet signal.

3. I fell in with the wrong crowd.

4. I have been travelling the world, trying to escape from a foreign intelligence agency.

5. Barack Obama is in charge of my finances.

These are pretty poor excuses to use and I am sure each person using these were landed with a £100 penalty for late delivery. Why leave it to chance? Let us help you to get your self-assessment filed away and off your mind.

Contact us today.