The self-assessment deadline is less than a week away on January 31.
January 31 Articles
Ahead of the January 31 deadline for 2015/16 tax returns, HM Revenue and Customs has released some details about its £100m ‘snooper computer’ that can tell if you aren’t paying enough tax.
The powerful super-computer known as ‘Connect’ draws information from lots of different sources, including some places you might not have thought about.
If the computer thinks that you have underpaid on your return then it will flag your account and prompt further investigation.
All this means that HMRC no longer needs to rely solely on information supplied by individual taxpayers. If you, accidently or otherwise, misreport your income then it could only be a matter of time before you get caught in the taxman’s web.
HMRC is already using the system to warn users that that they may have underpaid on previous tax returns.
The deadline for submitting your online self-assessment tax return is just over six weeks away and accountants are being booked up quickly as time runs out.
Remember that you should have submitted your tax return and paid any taxes you owe by Midnight on 31 January.
With its large team of accountants, Umbrella.co.uk is well placed to help clients complete their self-assessment tax returns on time. But spaces are filling up quickly and opportunities to get help are running out.