Taxpayers have less than a week to submit tax return

(1 minute to read)

This year, HMRC decided not to issue late filing penalties for a month in order to help taxpayers who are unable to meet the usual 31st January deadline.

For those who haven’t yet filed and paid their tax return, they have until 28th February to do so in order to avoid a £100 penalty.

Although 10.7 million taxpayers filed their return by 31st January, more than 1.5 million taxpayers missed this deadline and are still to file their tax return – it’s worth noting that those in this position are accruing interest on any unpaid tax liabilities but still have time to file and pay without incurring penalty charges.

There’s also the option to apply online to spread your bill over up to 12 months, but you will need to file their 2019-20 tax return before setting up a Time To Pay arrangement.

Thinking of appointing Dolan Accountancy?

Give us a call on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

Email Jaime

Jim Harra, HMRC’s Chief Executive, commented, “Self Assessment taxpayers have until 28th February to file their tax returns and prevent being charged a £100 late filing penalty.

“Tax returns submitted during February have missed the 31st January Self Assessment deadline and are late. I’m urging anyone who is still to complete their return to not put if off any longer risking penalties and further interest on their outstanding liabilities. Support is available on GOV.UK for anyone worried about how to complete their tax return or how to pay their tax bill.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

Jaime Thorpe

By Published on 24th February 2021

limited, Contractors

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Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £105 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of Contractor Umbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.
  • Same day payments- We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

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