Tuesday, 8 January 2013

31st January

First of all, a Happy and Prosperous New Year to you all

The 31st January is a date that should be etched into the brain of every self-employed person.  By this date you should have filed your SA tax return and paid any tax due.  If you fail to do this HMRC will send you a fixed penalty letter for £100.00 (non-refundable).  By the end of September this penalty, plus interest, will have gone up to £1600.

 If you are in a partnership this applies to ALL partners plus the Partnership Return itself e.g. three partners - four returns; four penalties.

Enough of the sad stuff.  Have a great year.