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HMRC has warned contractors and other individuals not to share information about their online tax account after reports that scammers have been using people’s private information to submit bogus refund claims.
Criminals are using Government Gateway log in credentials to register for Income Tax Self-Assessment, before submitting a fake tax refund request and pocketing the repayment.
If you pay taxes through HMRC’s Self Assessment system, you need to make sure you settle your second payment on account by the end of this month.
A payment on account is an advanced payment towards your tax bill, including income tax and Class 4 National Insurance if you’re self-employed.
As Christmas draws closer, many contractors will be finalising their plans for the festive season.
You know who is in charge of wrapping presents, what time you’re going to travel to the in-laws and who’s cooking the turkey. But you shouldn’t forget about the tax return deadline in amongst all the merriment.
After all, you only have until 31 January to complete and pay your Self-Assessment.
The self assessment tax return submission deadline for completion and filing of your online tax return is midnight 31st January 2015 as is your tax payable.
HMRC have moved the deadline for online self-assessment filings from 31st January to 28th February 2022.
The deadline for submitting your online self-assessment tax return and paying any tax due is 31st January 2019. This is only just over three weeks away….but don’t panic!!
Accountants are being booked up quickly as time runs out but at Umbrella Accountants, we always plan for the last-minute rush! We have capacity to help you with your self-assessment – provided you don’t leave it until the very last minute!! Plus, if you quote ‘2019SA’ we will give you a 25% discount off the current fee!
If you miss the deadline by up to three months, then you will get an automatic penalty of £100. You could have to pay more if it is later than three months or if you pay the tax bill late.
So, what do you need to do to avoid the last-minute stress and heartache? Here are our top tips.
At the time of year if you receive an email from HMRC you may panic that you owe tax or if it says you are owed a refund then you may be keen to respond in order to receive it. At the end of the day you don’t want to ignore a valid email for fear of being fined or missing out on a tax refund you may be due.
If you have missed the 31st January deadline don't panic too much.
If you are more than a day late then you are already be subject to a £100 fine.
