While many people will be focused on the festive celebrations at this time of the year, business owners and other taxpayers must not forget the all-important Self-Assessment deadline.
The deadline for sending 2016-17 tax returns to HMRC is midnight on 31 January 2018.
The penalty regime for missing the 31 January filing deadline includes an initial £100 penalty, which applies even if there is no tax to pay, or if the tax due is paid on time.
It is important that you do not leave submission until the last minute, as from experience HM Revenue & Customs tends to take a more careful view of those returns submitted near to the deadline.
If you haven’t yet provided us with the information to prepare your tax return, now is the time to act!