As the deadline for filing Self Assessment tax returns online approaches, Thurrock’s premier accountancy firm is reminding businesses and self employed individuals to act fast.
This year, any late returns will automatically result in a £100 fine from HM Revenue & Customs, irrespective of the tax liability involved, and Thurrock chartered accountancy firm the PBA Group is calling on any business or individual who hasn’t yet prepared their accounts for HMRC to pull together their records quickly.
This year HM Revenue & Customs received 1,100 online Self Assessment tax returns on Christmas Day and 3,512 on Boxing Day. The deadline for online tax returns is January 31 but anyone who is filing a tax return for the first time is being urged to act sooner rather than later as it can take up to 10 days to register.
The PBA Group, based in Corringham, Thurrock, is a specialist accountancy firm with a range of clients from sole traders and freelancers to major businesses with multimillion pound turnovers.
Among its comprehensive services are auditing, book-keeping, business management, VAT, payroll, statutory statements, and taxation.
Dan McManus, partner at the Thurrock-based firm, said: “This year there is an even greater urgency to file your tax returns ahead of the deadline following the introduction of a new penalty regime.
“The deadline for filing on paper has already expired and any business or individual missing the January 31 online deadline will automatically face a £100 fine, even if they have no tax to pay.
“Ideally businesses should be well-prepared for this legal requirement but if you’ve left things late this year there is still time to consult an accountancy specialist who can prepare the return on your behalf. Here at the PBA Group, we ideally need to receive your documents by Friday, January 27 at the very latest in order to meet the HMRC’s deadline but the earlier the better.”
Founded in 2001 and formally known as P Baker and Associates, the PBA Group prides itself on its transparent fixed-fee policy and will discuss a business or individual’s requirements prior to commencing any work.
The business additionally specialises in start-ups, raising capital, wills, insolvency/business recovery and independent financial advice.
For more information about the PBA Group’s services call 01375 308069 or click here.
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