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Bookkeeping and Accounting Services In Shropshire

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P11D deadline July 6

Tax self-assessment deadline 31 January 2019

The deadline for submitting your 2017/18 self-assessment return is 31 January 2019. The deadline applies to taxpayers who need to complete a tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 National Insurance Contributions (NIC), capital gains tax and High-Income Child Benefit Charge liabilities.

There is a penalty of £100 if a taxpayer’s return is not submitted on time, even if there is no tax due or the return shows that they are due a tax refund.

The balance of any outstanding income tax, Classes 2 and 4 NIC, capital gains tax and High-Income Child Benefit Charge for the year ended 5th April 2018 is also due for payment by 31 January 2019. Where the payment is made late interest will be charged.

The first payment on account for 2018/19 in respect of income tax and any Class 4 NIC or High-Income Child Benefit Charge is also due for payment by 31st January 2019.

Amazingly, HMRC revealed that more than 2,600 taxpayers filed their return on Christmas Day.

Don’t ignore the deadline

Even though there are only a couple of weeks to go, if you haven’t sorted out your taxes for this period and think it’s too late to find anyone to help, it’s not so please don’t ignore the deadline! As experienced Shropshire bookkeepers and accountants, we are very well placed to help clients at the last minute!

We know when all the deadlines are and we expect a rush and to “pull-out all the stops” at these times to help you. It is better to realise the deadline is coming, pick up the phone and give us a call to see if we can help! If we can, we always will! It is far better to get your books in order than bury your head in the sand and incur an ever-increasing fine.

If you would like help with your return or agreeing your tax liability please contact us on 01743 790086.

Internet links: GOV.UK self-assessment GOV.UK press release