Self Assessment Deadline
January 31st self-assessment tax submission deadline is fast approaching, and HMRC has urged contractors to complete their forms as quickly as possible, or face an automatic £100 fine.
Surprisingly, Christmas day saw a record number of online tax return submissions, however, many contractors have still to pay outstanding tax, and record fines are predicted as a result.
There are certain pieces of information required when completing the return to ensure that it is accurate and the services of a contractor accountant is paramount in this regard.
With only a few weeks remaining, contractors and self-employed individuals who have yet to get the submission process underway are strongly advised to do so ASAP, to avoid unnecessary fines and costs.