Tax Returns - Deadline

Here in the UK, the authorities' deadline is 31st January each year. The penalties for being late start at £100, and interest on late payment begins to accrue.

Inland Revenue usually (unless they don't know you have started a business or new income flow) let you know that you are responsible to furnish a return.

Obviously, if you do start a business, you have a responsibility to notify them, for both tax and national insurance purposes.

In recent years, Inland Revenue have made it a lot easier to handle your own affairs. The tax system is really rather straightforward now, there's few tax rates or allowances to 'fog' matters, and you can do it all online!

Obviously, you can choose to pay someone else, and hopefully your choice would be a suitably-qualified and properly-regulated person, to deal with your records.

Nevertheless, you're wise to retain all receipts and vouchers, and keep reasonable records, no matter how busy you consider you are, to be unravelled later!

It is wise to retain a copy of every document, return or letter you submit to any of the authorities, including Inland Revenue. Remember, they have access to all that information when they review your latest offering!

Your advice is also welcome!

My inital posting, 31st December, was my very first, ever, attempt at setting up some sort of web presence.

I am now learnings about labels, clouds, links, comments, moderation and all sorts of new things!

Therefore, I'd appreciate any comments or advice you may have, to help me produce a reasonably attractive and interesting web-page.

Many thanks!

Ken, 15th January, 2011