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New Tax Return Deadline
Newsletter issue - October 08.
Halloween is particularly scary this year as it brings a new Tax Return deadline. If you plan to complete your self-assessment tax return on paper, your signed tax form must be with HMRC by midnight on 31 October 2008. If you are going to complete the form online, or have asked us to submit it online for you, you (or we) have another three months to 31 January 2009 to do this.
What happens if you miss the 31 October deadline and submit your paper return after this date? If you pay all the tax you owe for 2007/08 by 31 January 2009, you will not have to pay a penalty. The HMRC computer system may issue a penalty, but this should be reduced to nil where you can show you have paid all your tax on time. If HMRC owe you a tax repayment for 2007/08, you cannot be fined for submitting a late tax return. Although of-course you won't get your tax repayment until you submit your tax return.
If you try to use the HMRC free software to complete your return online, but something goes wrong with the system so your return does not get through, you do have a reasonable excuse. In this case you have no choice but to submit a paper tax return instead. When the HMRC computer spews out a penalty you should appeal and enclose proof that you tried to submit online but the system failed.
To avoid this hassle, just deliver all your tax return details to us, and we will do battle with the HMRC computer system on your behalf. But we need to receive your tax records without delay to get the return done in time!
What our clients say about us...
"Paul has provided accountancy services to my company for 2 years now. I can recommend Paul very highly; his skills as an accountant are highly detailed and professional and he is always available to provide advice. One aspect of the way Paul works that I greatly appreciate is a preference to meet face to face when there is a detailed conversation to be had. I personally find this more productive and is a benefit of working with a small accountancy firm that you wouldn't get with the large faceless providers."
ALISTAIR FAIRWEATHER - PROGRAMME & PROJECT MANAGER, DELIVERING/RESCUING I.T. 7 BUSINESS CHANGE WITH BUDGETS UPTO £50M INC SUPPIER MANAGEMENT
"I couldn't ask for more from Paul as an Accountant. Paul has been accountant to Work Relief Charity Recruitment for just over a year now and is proving an invaluable asset. Accurate, knowledgeable, flexible with an emphasis on service delivery, I would recommend Paul's services to any organisation looking for an accounts professional."
Neil Price - Managing Director at Work Relief Charity Recruitment
"Paul was a referral from a family member when I started my business 2 years ago. As this was the first time I had ever run my own company I was totally clueless over the financial side of matters and was worried that I may have made mistakes in any of my accounting. I needn't have worried as after enaging Paul for a set monthly fee he was always there on the end of the phone for all sorts of questions I had and no matter how trivial they were Paul gave me all the information I required and more and did an excellent and painless job at the end of my first year! Couldn't ask for any better to be honest. Just two words - hire him!!!"
Lee Westrap MBCS - Director - Bulldog IT Services
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