Tax self-assessment – two weeks and counting…
17th January 2011
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If, like me, you run your own business and are self-employed you are likely to have received a letter from HM Revenue & Customs (HMRC) reminding you to complete a self-assessment tax form.


And with the online filing deadline of 31 January now only two weeks away, there’s no time like the present!


Under the self-assessment system, individuals are responsible for ensuring their tax liability is calculated and paid on time.  If a completed return is not sent to HMRC before the 31 January deadline, an automatic penalty of £100 will apply.


There are also a number of changes relating to the latest tax return period – 6 April 2009 to 5 April 2010 – to be aware of including those linked to pension contributions.


Joanne Crewe, a financial planning manager at the Guildford office of PKF (UK) LLP, notes:


"Preparing a tax return for 2009/10 is more complex than previously if you had income over £130,000 that year and you or your employer made pension contributions: take advice to make sure you get it right."


For further information visit the HMRC website:


Good luck!


About the Author

Claire Dee

Member since: 27th June 2012

Claire Dee is a freelance communications consultant running her own business near Guildford. Claire can help with all your communications needs: writing, editing, journalism, media relations, training....

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