If you receive income from self-employment, rent from property, income from overseas or other income without taxed deducted you will be required to complete an Income Tax Return and file it by 31 October (on paper) or by 31 January if you file on line.
There are very specific rules about expenses that are allowable for tax purposes and failure to account for expenses correctly can result in a tax investigation by HMRC which may lead to penalties. Completing a tax return can be stressful experience even if there are only a few entries to make. Why not let M A Accountancy Services take care of it for you?
Value Added Tax (VAT)
If your business is VAT-registered, it is extremely important to submit your VAT return and make your payments on time. Failure to complete your VAT returns correctly and on time will result in penalties and interest.
Value Added Tax deadlines can be very stressful so why not let M A Accountancy Services help you? We can ensure you are accumulating the correct amounts for every transaction and that payments and VAT returns are done on time and accurately. Completing VAT Returns is an integral part of our professional bookkeeping service.
If you have a limited company you are required to pay your Corporation Tax liability within 9 months of your financial year end. Your annual accounts, Corporation Tax calculation and CT600 should be submitted within 12 months of the end of your financial year. Late filing will incur penalties and interest. M A Accountancy Services offers this service as part of our year-end package for limited companies.