It’s beginning to look a lot like… the tax return deadline!
Now that 2019 has been brought to a close, the 31 January 2020 deadline for 2018/19 tax returns will soon be upon us.
If you have not already submitted your 2018/19 self assessment tax return, you may want to get this underway soon.
A £100 late filing penalty will apply where your tax return is up to 3 months late, and further penalties can apply if the tax return remains outstanding after this date.
Any tax due should be paid by 31 January 2020 as well, and interest will begin to run on any tax outstanding from this date. A penalty of 5% of the unpaid tax will apply where the payment is not made within 30 days of the above date.
If you need assistance with filing your tax return for 2018/19, please contact a member of our team.