Did You Miss The Deadline? What Now?

And then suddenly it's February!

January came and went. If you're self-employed and required to complete a self-assessment tax return, you may be reading this feeling smug in the knowledge that you submitted your return before the end of January deadline. Some of you may even have had it all tied up way before the trees and tinsel went up in December last year. For others, you'll see the deadline as the latest it can be done, like it's a target to hit, rather than a red flag to avoid. 

We all work in different ways. There is no doubt that there will be some of you who have stuck your heads in the sand, or ran out of time and failed to submit anything. Clearly, this is not the best approach, but if you are feeling overwhelmed by the whole self-assessment scenario, then you certainly are not alone. 

So, what now if you've missed the deadline? 

It's likely that you will receive an initial fine from HMRC of £100, but to avoid any further penalties, you need to get your books up to date and your tax return submitted to HMRC as soon as possible. 

If you feel you'd like some help with this and get more organised in the future, then call me. Not only can I unpack the tax affairs of the past year, but more importantly, I can get you on track so that come January 2024, we can avoid the penalty and maybe even get the return in before Santa casts his spell.