- Cybersecurity failings are rife amongst UK SMEs
- OECD calls on UK to increase tax on self-employed
- Deadline to comply with new trusts rules extended until 2018
- The future of company vehicles
- Britain’s small business economy is expected to grow nearly a fifth by 2025
- Over-50s cutting back on essentials to leave inheritance
- HMRC to implement changes to how it is paid
- Inaugural Autumn Budget date announced
- The Finance Bill is back and little has changed
- Admin takes up 120 days every year for UK small businesses
- Cricket club stumped by VAT dispute
- All change for the UK’s cash
- Late payments damage the UK economy, research shows
- Students could be entitled to a tax refund as they head back to university
- Dividend Tax changes set to hit small business owners and investors
- Government begins to play its hand at the Brexit negotiation table
- HMRC dynamic coding causes issues for taxpayers
- Taxpayers begin to receive simple assessment requests (PA302)
- HMRC launches new online forum to give small business owners direct tax advice
- Revenue’s crackdown on VAT evaders yields £3.4 billion from small and medium firms
- Self-employed workers may miss out on mortgages due to changes in delivery of SA302 forms
- Scammers take advantage of businesses ignorance on EU VAT rules
- Landlords – unpaid tax should be declared sooner rather than later
- Making Tax Digital delayed by at least a year for the majority of businesses
- Taylor report recommends review of cash-in-hand
- Two fifths of SMEs say investment plans have been negatively affected by Brexit
- Credit and debit card charges to be banned as cashless economy grows
- HMRC given an extra £5.3 million to enforce minimum wage compliance
- Opposing HMRC penalties on grounds of ‘reasonable excuse’
- Rules on directors’ tax returns are not as clear you might think
- Huge fines for employers stalling workplace pensions
- Five ways to get more enjoyment from your money
- Persons of Significant Control – changes to Companies House Reporting
- I’m a non-resident landlord. Do I have to file a tax return in the UK?
- Can you benefit from capital allowances on your business premises?
- Britain faces ‘a business support black hole’ post-Brexit, according to the FSB
- Receipts rise as Corporation Tax rates fall
- The Big Squeeze – Pay and consumer spending to slow down
- Software that makes you WannaCry – The importance of cyber security
- The Inheritance Tax main residence additional nil-rate band
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While most people will be focused on the festive celebrations at this time of the year, businesses and their owners must not forget the all-important Self-Assessment deadline.
The deadline for sending 2016-17 tax returns to HMRC is midnight on 31 January 2018.
The penalty regime for missing the 31 January filing deadline includes an initial £100 penalty, which applies even if there is no tax to pay, or if the tax due is paid on time.
Any tax due from the previous year must also be paid by midnight on 31 January, or penalties may also be issued for late payment of tax.
It is important that you do not leave submission until the last minute, as from experience HM Revenue & Customs tends to take a more careful view of those returns submitted near to the deadline.
If you haven’t submitted your tax return yet or provided information to your accountant to assist them with the necessary preparations, now is the time to act!