HMRC releases warning for late tax returns
HMRC have released a warning this morning to anyone who filled in their tax form late. Whether it is a business or an individual, HMRC have said they may seize goods if their tax return was late in.
Around 300,000 people filled in their tax return for 2010-2011 late and HMRC are now sending warning letters to those who have already for a penalties for the period and are yet to pay them.
A HMRC spokesperson have said:
“These non-filers have ignored numerous communications from HMRC, dating back to April 2011, including flyers, reminder letters, penalty notices and warning letters,” he said.”
If this is you, you can still pay the fines and submit your late tax return.
If you are a small business and you are struggling to keep everything up-to-date, it may be time for you to look into outsourcing some tasks. It may sound daunting and expensive but often it can be more beneficial to your business and your cash flow levels if you ask for help. Whether you outsource your invoice financing services or your tax/ accountancy, some outside help can really help with the smooth running of your business.