With less than 100 days to go before the 31 January deadline, HM Revenue & Customs (HMRC) is reminding customers (sic) to complete their tax returns early to beat the Christmas and New Year rush. Last year more than 2,000 people submitted their tax returns on Christmas Day.
Angela MacDonald, HMRC’s director general for customer services, says: “The deadline for completing self-assessment tax returns is only 100 days away, yet, so many of us wait until January to start the process. Avoid the last minute rush by completing your tax returns on time and then enjoy the upcoming festive period”.
Ms MacDonald goes on to add that by starting the process early and giving yourself time to gather all the information you need, “you will avoid any stressful, late rush to file.”
It is important to be aware that filing your tax return late, or failing to pay the tax you owe on time, could mean you face extra penalty fees and interest charges. It is therefore recommended that you authorise a tax specialist such as Beavis Morgan to handle your tax affairs and deal with HMRC on your behalf. This will ensure that all deadlines are met and that you are not paying more tax than you need to.
At Beavis Morgan, our diverse team of tax professionals are committed to ensuring that your tax reporting obligations are fully satisfied and that every opportunity to lawfully exploit tax savings is made known to you, restructuring your affairs in a tax effective and efficient way.
If you have any concerns relating to your tax return or wish to discuss your tax affairs in further detail, please contact your usual Beavis Morgan Partner.