Have You Completed Your Personal Tax Return?

shutterstock_276568649Christmas is now a distant memory and time is running out for completing your tax return before the 31 January deadline.

If we do your tax return and you have not yet sent us your information, please do so as soon as possible in order to ensure you don’t incur a £100 late filing penalty.

If you prepare your own tax return and are already registered with HMRC’s online service, we recommend you log on and prepare your return sooner rather than later.  The HMRC portal is likely to get very busy as we get closer to 31 January.  Also, you may find when you sit down to prepare your return that you are missing some information or need some advice, both of which may take time to resolve.

The bad news for those who have not already registered for self-assessment is that it’s currently taking HMRC 6 weeks to issue UTR (unique taxpayer references). However, if you apply now and make a reasonable effort to register well before the deadline HMRC may exercise some leniency. They may not be so keen to set aside late filing penalties if you do not apply until 30 January.

If you need help with your tax return or this is your first time completing a tax return online and are worried about meeting the deadline, please get in touch with Julie Walsh (Tax Manager) at julie.walsh@pmm.co.uk or call 01254 679131.