What if I miss the tax return deadline?

Should you fail to meet the deadline to submit your self-assessment tax return there are penalties which HMRC will charge automatically. The first deadline is the 31st October for paper returns, but if you miss that deadline you are not fined as long as you submit the electronic version before the 31st January, but if you miss this deadline, and fail to pay any tax due by the same date then the … [Read more...]

Real Time Digital Tax Accounts

In the budget back in March this year, George Osborne, the Chancellor announced plans to move away from the annual tax return to digital tax accounts. But what does this mean for individuals and for accountants. For individuals From April 2016 five million small businesses and 10 million individuals will have digital tax accounts, which will mean that the individual will no longer need to … [Read more...]