Tax Return Tips and Advice from TAG Accountants
As 2017 is now upon us, our taxation services team thought that readers might appreciate a timely reminder that the 2015/16 tax return deadline is fast approaching.
With over 1 million returns filed late for the 2014/15 tax year and given that the initial penalty for late filing is £100 (rising to £900 plus interest if you become 90 days late), it is no surprise that the monies raised through late filing penalties by HMRC have been phenomenal.
The Solution? Taxation Services
One solution is to make use of the taxation services we provide here at TAG Accountants Group. Alternatively, those who do file late can appeal against the inevitable penalty but only if you have what is deemed a “reasonable excuse”. HMRC guidance define these as the death of a family member shortly before the deadline, an unexpected stay in hospital, a computer failure, fire, or postal delays that could not have been predicted.
On a lighter note, here is a list of 10 excuses made in prior years, all of which were perhaps unsurprisingly rejected by HMRC:
- My tax return was on my yacht which caught fire.
- A wasp in the car caused me to have an accident and my tax return, which was in the car, was destroyed.
- My wife helps me with the tax return, but she had a headache for the last ten days of January.
- My dog ate my tax return and all the reminders.
- I couldn’t complete my tax return, because my husband left me and took our accountant with him. I am currently in the process of finding a new accountant.
- My child scribbled all over my tax return, so I wasn’t able to send it back.
- I work for myself, but a colleague borrowed my tax return to photocopy it and has lost it.
- My husband told me the deadline was the 31st March.
- My internet connection failed.
- The postman doesn’t deliver to my house.
Perhaps the only solution is just to get your tax return in well before the 31/01/2017 deadline, and that is where our taxation services department could really help you!
Know your Tax Liability Before It’s Due
Here at TAG Accountants Group, we make sure our clients don’t have to make any excuses and consequently know their tax liability well before it becomes due for payment. To do this, we always send out timely information requests together with easy to understand checklists which are then followed up by reminders and even phone calls if necessary! Consequently, as in prior years, we have some more last-minute January slots that we can make available to help prospective clients.
Taxation Services from TAG Accountants
So, if you are panicking about this year’s deadline or just really need a tax accountant who will not let you even get to that panic stage, call TAG Accountants Group of Wolverhampton on 01902 783172 or alternatively contact us HERE to book a FREE appointment to discuss your tax affairs.
But please don’t leave it until it’s too late…
What are you going to do to make 2017 a great year?