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Tax Returns Deadline Alert !!!

Tax Return 2013-2014 Deadline 31 January 2015

 Who needs to submit the Tax Returns?

 If you have one or more of the following, then you must submit your tax returns

  • You’re self-employed.
  • You are a partner in a business Partnership
  • You are a company director
  • Your annual income more than £100,000 or more
  • You have income from property
  • You have income from savings or investment that has been taxed and is £2,500 or more (Bank account interest is usually taxes automatically)
  • You need to claim expenses or reliefs
  • You or your partner receive child benefit and income is over £50,000
  • You get income from oversees
  • You have income from trusts, settlement or estates
  • You have capital gain tax to pay
  • You have lived or work abroad or don’t live in the UK permanently
  • You are trustee

PENALTIES

The longer you delay the more you pay. So what could your looking at if you file too late? Here is simple breakdown:

1 Day late        – £100 fine

3 Months late – The £100 above plus £10 for each further day they you are late, that’s up to potential £900 in fine.

6 Months late  – All of these palatines above plus £300 or 5% of tax due (whichever is higher)

12 Months late            – All penalties above plus £300 or 5% of tax due

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Where to Find Us

Taxcare Accountancy

103 Cranbrook Road,

Ilford, Essex

IG1 4PU

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