For those of us with young children, or those yet to grow up Halloween marks the chance to indulge in trick-or-treating, carving of pumpkins, fancy dress, firework displays and lest we forget the history behind this time of year remembering the dead.
For those of us working in the personal tax world though the 31 October has other significance, it marks the last day on which you can file a paper self-assessment tax return with HM Revenue & Customs for the 2014/15 tax year.
Anyone who wants to or is required to file a return for 2014/15 will now have to file their return electronically. For those already registered with HMRC and used to filing their return on line this should not be a hardship and indeed if HMRC’s figures are to be believed seems to be something more of us are spending the Christmas holidays dealing with.
However, for those who wish to file a return and who are not yet registered with HMRC the next month should be the time when you look to get registered, as leaving it any later than this could mean that HMRC will not process your application in time, and leaves open the possibility of you incurring a £100 penalty for filing your return late.
If you need help registering with HMRC or completing your returns please contact your local Thomas Westcott office.
By Mark Tibbert, Partner and member of both the Thomas Westcott Manufacturing & Technology Team and the Property and Construction Team
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