Home   News   Article

Stephenson Smart accountant in King's Lynn advises on deadline for self-assessment tax returns

A new year, a new decade.

Out with the old, in with the new, wiping the slate clean, turning over a new leaf.

The positive phrases are in abundance.

Neil Gayton, accountant with Stephenson Smart (26240613)
Neil Gayton, accountant with Stephenson Smart (26240613)

I think the whole notion makes people determined to make resolutions to improve and enrich their lives.

And in our house it’s certainly sparked some interesting discussions.

I’ve made an important decision to not take it so personally every time I lose at Monopoly. I need to accept that it’s quite normal to be bankrupted by the time I’ve made it five times round the board.

My wife has vowed to stop asking for an extension to the house every Boxing Day after she’s counted the amount of toys we need to shoehorn away.

Samuel has declared he wants to become a professional footballer so he can afford to pay for us all to stay in a tree house lodge at Centre Parcs, while Oliver simply wants to finish reading all of the Harry Potter books.

I think this is all achievable, except for mine. It really does bug me.

January is often seen as the month to make positive changes, but also to get everything in order, which leads me on very nicely to remind people, who haven’t already done so, to fill in their self-assessment tax returns online by January 31.

If you miss the deadline, HMRC will charge you £100, and beyond that it will cost you £10 for each extra day that it becomes overdue.

At my accountancy firm Stephenson Smart, we advise our clients to do their research, check for basic mistakes and have all information handy.

So if you are self employed, a freelancer or small business owner it's time to act, because if you file it late, it will mean a fine.

I could liken it to all the times I have had to pay to get out of the Monopoly jail, but I’m afraid it would only upset me.

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies - Learn More