Tax deadline is approaching

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SELF employed people are being warned to submit their self-assessments by the end of the month or face a hefty fine.

The warning has come from the Association of Chartered Certified Accountants, which says it applies to anyone whether they owe tax to Her Majesty’s Revenue and Customs or not.

Chas Roy-Chowdhury, ACCA head of taxation, said: ‘There is no escaping the fact that if you do miss the deadline HMRC will fine you.

‘At a time when money is tight for the majority of people, the last thing you need is to pay for something that could be easily avoided.

‘HMRC will take seriously any errors in your returns, so I would urge anyone to make sure they seek the help of a professionally qualified accountant. HMRC will apply a £100 fine if you are just a day late in submitting your return. This applies whether you owe tax or not.’