TaxAssist Accountants files more than 100,000 tax returns

TaxAssist Accountants has celebrated filing over 100,000 tax returns on behalf of its clients.

With the January 31st deadline for self-assessment tax return submissions in the 2018/19 tax year just gone, the bookkeeping and accounting franchise has revealed an impressive milestone. It has completed more than 100,000 personal tax returns for clients across the UK.

TaxAssist is approached not only by businesses and self-employed individuals from a broad range of industries, but also by property landlords. The franchise can use its teams of expert accountants to manage their financial affairs and file their tax returns on time.

Punctuality is vital when it comes to tax returns, as those who submit their forms late incur an immediate fine of £100. Then, there are ongoing daily penalties of £10 until the taxpayer reaches a debt of £900. If the individual ignores their tax obligations for more than a year, they’ll owe more than £1,600, so it’s worth being on top of your taxes.

This year, nearly a million UK taxpayers missed the self-assessment tax return deadline and are now required to pay a penalty fee.

TaxAssist’s Senior Training and Communications Manager, Samantha Skyring FCCA, said:

“Our nationwide network of 375 offices helps businesses, self-employed individuals and those with second incomes to accurately calculate and pay their tax liabilities on time. There are many benefits to being organised and arranging your self-assessment tax return well in advance of HMRC’s deadlines.

“First and foremost, you can start budgeting for your tax bill and manage your cashflow accordingly. However, for those who are due a tax refund, it can allow you to receive the money you are owed sooner rather than it sitting in HMRC’s bank account. Our accountants encourage the UK’s business community to not delay the inevitable and avoid late filing penalties that become an unnecessary drain on business finances.”