Taxfile: Finalist for 2 more awards!

Taxfile are finalists in 2 categories at the 2012 Lambeth Business AwardsTaxfile are proud to announce that they are finalists in 2 categories in the 2012 Lambeth Business Awards. The categories are:

  • Best Small Business (which they won last year) and …
  • the Award For Innovation

It would be thrilling to win Best Small Business for a second year running! To have been nominated and actually make it through to being a finalist for the Award for Innovation is also a real honour.

This adds to Taxfile’s already impressive list of awards. Last year they won the ‘Best Small Business’ category (‘2011 Lambeth Business Awards’) and were also nominated as ‘Best Small Business’ in the wider ‘South London Business Awards’.

The Lambeth Business Awards have been developed to reward and celebrate Lambeth’s vibrant and dynamic business community. The Awards are a major annual event and the winners will be announced at a dinner held at the Kia Oval, Kennington on 22nd March 2012.

Back Taxes: Filing Late Tax Returns

A  record 9.45 million Self Assessment tax returns were filed on time this year, and a record 7.65 million (80.9 per cent of them were filed online, as per HM Revenue & Customs (HMRC).This means that for the first time in seven years 90.4 per cent of taxpayers met the deadline – an increase of four per cent (700,000 returns) on last year. In fact, it’s the highest on-time filing result since HMRC was created.

Although the 31 January deadline was unchanged, HMRC announced that no penalties would be issued for online returns received by midnight on 2 February, due to industrial action at HMRC contact centres. This year’s record numbers show an increase from last year, when around 6.9 million people had filed online by 31 January. The proportion filing online last year was 78 per cent.

James Cross, General Manager of Taxfile, a South London based Tax Accountant said ‘’our extended opening times and constant reminders to clients about the deadline and penalties resulted in a record number of tax returns filed by us in our 16 years of business!’’

With changes to SA penalties this year, everyone who did not file on time will receive a £100 penalty, which increases through the year. Read more