Why you can’t afford to miss those January deadlines

Taxation - Penalties

Wednesday, 19th February 2020

Can your business afford increasing HMRC penalties? Left ignored they can top £1,600 per return per tax year! High penalties can affect your day to day cash flow, delaying that all important capital purchase, staff incentives and many other scheduled  business purchases which will impact the growth of your business.

Despite HMRC sending regular reminders, over 750,000 individuals had not submitted their tax returns by the  31st January 2020 deadline!

Onyx can proudly boast that all of our clients tax returns were filed on time avoiding unnecessary interest charges and penalties. This enables us to work with our clients to maximise their earnings in the most tax efficient way.

We always recommend completing your tax return early, so you know how much tax you need to pay and when.

 THE BENEFIT

If this is your first self-assessment tax return then it could be your most expensive one as 50% of your tax liability must be paid upfront towards your 2020/2021 tax bill. Avoid the unexpected surprise of that first tax bill and give our tax team a call.

Are you due a refund? It makes sense to complete your tax return early. Once submitted your refund could be in your hands within a matter of weeks, enabling you to make those planned business purchases or to make provision for any additional tax payments due by 31st January 2021.  Give our experts a call to ensure your refund is issued directly to you.

THE PREPARATION

Our specialist team are now preparing to work with all of our clients in the  preparation of their 2019/2020 tax returns which can be filed from 6th April 2020.

We are ready to help you and ensure your 2020 Tax Return is on time and you maximise your tax savings.

By using Onyx Accountants and Business Advisors to undertake your personal self-assessment tax return you eliminate the worry which allows you to concentrate on running your business.

 

Ready to take that first step, or want to discuss further, please give us a call or e-mail us at  enquiries@onyxaccountants.co.uk for a FREE no obligation consultation.

GET IN TOUCH WITH ONYX

Got any questions or queries? Our friendly team of tax specialists are happy to help. Just drop us a line! Call us on 0121 753 5522 or 01902 759 800.