Predicted £87 million windfall for HMRC on 31st January 2017
Last year around 870,000 people missed the 31st January 2016 deadline and were issued with a £100 fine.
That amounts to a whopping £87 million pounds for HMRC overnight on 31st January.
And don’t forget it doesn’t stop there you will receive further penalties for being 3 months, 6 months and 9 months late
In fact if you leave it until 1st August 2017 to submit your tax return your penalties will add up to a minimum of £1300! OUCH!
Don't forget we are happy to answer quick questions even if you're not a client so if you are struggling to submit your return please pick up the phone.