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Late with your tax return and tax payment?

Missed the tax return deadline? What now?

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Missed the tax return deadline? What now?If you missed the deadline to submit your self-assessment tax return, the first thing to know is that you are now into the penalty stage. HMRC applies an automatic £100 penalty to those who are even 1 day late (the deadline was 11.59pm on 31st January) and further penalties are added if you take even longer to comply. It’s worse, of course, if you also haven’t paid any tax owed as you’ll then owe interest too, so our advice is to pay as much as you can before 28th February, so you’ll reduce any element of interest. However, if there is a genuine reason why you were late with your return, and it fits certain criteria, you have the option to appeal …

Circumstances that are taken into account by HMRC when considering appeals include:

  • if a close relative or partner died shortly before the tax return or payment deadline;
  • if you had to stay in hospital unexpectedly;
  • if you had a life-threatening or serious illness;
  • if your computer or software failed at the time you were preparing your online return;
  • if HMRC’s online services were disrupted;
  • if you were prevented from filing your return or paying your tax because of a fire, flood or theft;
  • if there were unexpected postal delays;
  • and occasionally other reasons which, if genuine, HMRC may deem to be relevant.

Excuses that aren’t usually accepted by HMRC include: Read more

Christmas & New Year Opening Times at Taxfile

Christmas & New Year Opening Times at Taxfile

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Christmas & New Year Opening Times at Taxfile

Please take a look at the calendar above and note our opening times over Christmas and New Year. As you can see, we’re closed on several days over the festive period. This is particularly important for those who need to come to see us for help with time-sensitive accounting and tax-related services in the run-up to January 31st.

Need Help Filing Your Tax Return?
Make an Appointment NOW!

In particular, we urge anyone who needs to file a 2017/18 Self-Assessment tax return to come and see us well before Christmas. By doing so, you’ll avoid the last minute stampede — way too many people leave it until January, which is the busiest time in the tax and accounting calendar. While the HMRC deadline for tax returns is the end of January, you run the risk of being caught up in the bottleneck if you leave things later than December. Taxfile files tax returns for thousands of customers during November, December and January, so we’re incredibly busy at this time of year — particularly January, which is frenetic! So, those leaving it until the last minute not only run the risk of being charged more to cover the long hours and overtime that we need to work during January, but they also risk receiving a fine from HMRC if they miss the deadline completely because they left things so late.

So the message is: please book an appointment with us now, ideally for a date before Christmas.

For Self-Assessment tax returns, records for the period 6th April 2017 to 5th April 2018 are required. For business accounts, we will also need to do accounts based upon the business’s individual year end.

Open for Saturday Appointments

We are happy to see people on Saturdays at this busy time of year (with the exception of the festive closures of course – see the calendar above). Saturday morning appointments should be more convenient for those who work on weekdays. As you can see on the calendar, we’re open from 10am to 1pm for most Saturdays in December and January but only for those with a pre-agreed appointment.

To book an appointment, please call 0208 761 8000 or book an appointment online here. Many thanks.

Taxfile's Autumn Newsletter 2018

Autumn Newsletter 2018

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Taxfile's Autumn Newsletter 2018

Those of you who are not on our mailing list may be unaware of our latest newsletter. So, we thought we’d post a little about it here, along with a link where you can download an Acrobat PDF version to read at your leisure.

Keep on Top of your Taxes

The Autumn 2018 Newsletter is packed full of articles and advice to help you get on top of your taxes, make sure you are aware of the services we offer and, above all else, ensure that you file your tax return in good time.

It’s Tax Return Time! Act Now!

When it comes to Self-Assessment tax returns, the main message is to act now. That way you will avoid the January stampede and any unnecessary, additional expenses.

Key Contacts at Taxfile

Along with other tax news and advice, we also include a very useful table of your key contacts at Taxfile. Simply choose the service you require and the key people responsible for helping you can be found alongside, including their email addresses for direct contact.

Download Taxfile's Autumn Newsletter 2018Download the eNewsletter

To find out much more, download the Taxfile Autumn 2018 Newsletter here.

Professional Help to Get Your Tax Affairs in Order

Taxfile are super-keen to help you through the maze of HMRC rules and tax regulations. We’ll get your paperwork, accounts, bookkeeping and tax returns all in order. Simple!

Open for Saturday Appointments

Taxfile’s Tulse Hill (SE21) office is now open on Saturday mornings, from 10am until 1pm, for pre-booked appointments. So, if you’d like to discuss any aspect of your tax and a weekend appointment is more convenient than a weekday, call 0208 761 8000 to book one or book an appointment online here.

Overseas assests - requirement to correct

Undeclared Overseas Assets? Beware the ‘Requirement to Correct’ Deadline!

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Overseas assests - requirement to correct

What does this mean for me?

If you are a taxpayer with overseas assets which are undeclared as regards income tax, capital gains tax or inheritance tax, you have an obligation to sort things out by 30 September 2018.

People who ignore this requirement and whose income or assets subsequently come to light will face much, much higher penalties and sanctions after the deadline.

Why bother now?

The United Kingdom has signed up for information exchange with a whole host of other countries. The information it receives from them will be input into its intelligence system known as Connect. This increases the likelihood of undeclared sources coming to light.

What if I do nothing?

After the deadline date, if your undeclared sources of income or gains come to light, you will face potential penalties as follows:

  • A tax geared penalty of between 100% and 200% of the tax due;
  • A potential asset based penalty of up to 10% of the asset value where the relevant tax at stake is over £25,000 in any one tax year;
  • Adverse publicity from being publicly named as a tax cheat where the tax is over £25,000;
  • A further potential penalty of 50% of the standard penalty if the Revenue show that assets or funds have been moved in an attempt to avoid the requirement to correct.

If you have a reasonable excuse for failing to correct your tax position, such as failing health for example, then penalties may be reduced or not charged in exceptional circumstances.

Get Started:

If you think you might be affected or are in any doubt, we suggest you act now to avoid any problems before the deadline.

Call Taxfile on 0208 761 8000 for a no-obligation discussion if you want to put things right. Alternatively, book an appointment here. We have a wealth of experience in dealing with voluntary disclosures and negotiating settlements with HMRC, so can definitely help you. We offer tax advice and accountancy services from our offices in Tulse Hill, Dulwich and Battersea in South and South West London along with tax experts in Exeter, Plymouth, Poole, Dorset, Devon, Yorkshire and Carlisle.

Final day to submit your Self-Assessment tax return

TODAY is the Self Assessment Tax Return Deadline!

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Final day to submit your Self-Assessment tax return

[As at 31 January]: There is just TODAY left to file your Self Assessment tax return with HMRC. Miss the deadline (11.59pm tonight) and you’ll straight away be in for a £100 fine from HRMC, so don’t delay — contact Taxfile TODAY to book an appointment with one of our helpful tax advisors and accountancy experts.

We’ll make filling in and filing your tax return a breeze and what’s more, we’re currently open 6 DAYS A WEEK from now until the end of January (Saturday mornings by appointment only). Don’t leave it to the last minute, though, as there is always a bottleneck for those who do — so come in as early as you can this week.

It doesn’t matter if you have zero tax to pay – you still need to submit your tax return on time! You also need to have paid HMRC any tax due for the 2016-17 financial year by the same 31 January deadline.

So get our professional help with filing of your tax return — you can book an appointment online*, drop by the Tulse Hill shop to book one, send us an email message via our contact form or, better still, simply call us on 0208 761 8000 and we’ll book you in and help sort out your tax return accurately and on time. Don’t delay — time is quickly slipping by and if you leave it too late you’ll be caught in the last minute bottleneck!

We’ll require your records, figures and receipts for the financial year 6 April 2016 to 5 April 2017.

* Please note: in extremely busy times such as January, a deposit may be required before commencement of appointments.

Christmas & New Year Opening at Taxfile

Christmas & New Year Opening at Taxfile

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Christmas & New Year Opening at Taxfile

The Taxfile Team would like to wish all our readers and customers a very happy festive season and to pass on our very best wishes to everyone for the New Year.

Taxfile will be open as usual until Saturday* 23 December. We then close briefly for Christmas Day and Boxing Day (Monday 25 & Tuesday 26 December respectively).

We will be open again as usual from Wednesday 27th to Saturday* 30th December, then closed for the New Year’s celebrations until Tuesday 2nd January 2018 when we re-open again —from that date it’s back to our usual working hours. Here are the full details:

  • Thursday 21 December: open 9am – 5pm
  • Friday 22 December: open 9am – 3pm
  • Saturday 23 December: open 10am to 1pm (by appointment only)
  • Sunday 24 December: closed
  • Monday 25 December (Christmas Day): closed
  • Tuesday 26 December (Boxing Day): closed
  • Wednesday 27 December: open 9am – 5pm
  • Thursday 28 December: open 9am – 5pm
  • Friday 29 December: open 9am – 3pm
  • Saturday 30 December: open 10am -1pm (by appointment only)
  • Sunday 31 December: closed
  • Monday 1 January 2018 (New Year’s Day): closed for the Bank Holiday
  • Tuesday 2 January onwards: open as usual Mon-Tues 9-6, Wed-Thur 9-5, Fri 9-3, Sat 9-1 (by appointment)

*Saturday morning opening is from 10am to 1pm and is for appointments only, so do book an appointment if you’d like to discuss anything with us at the weekend rather than during the normal working week.

Last few free 20 minute appointments – act fast if you’d like a free tax consultation!

If you would like a free 20 minute consultation for any tax matter, please book a date before the end of December as we pause free consultations during our busiest month of the year – in January we are swamped with tax return deadlines and have to concentrate on hitting those on behalf of our customers. Free 20 minute consultations will, of course, resume from 1st February.

You can book an appointment online here or simply call 0208 761 8000 (07766 495 871 after office hours) to arrange one with our tax professionals.

The Taxfile Team wishes you all a very happy festive season and our very best wishes for the New Year. Thank you too for your custom during 2017 — we really appreciate it. Here’s to 2018 when it arrives!

Taxfile Autumn 2017 Newsletter

Taxfile’s Autumn 2017 Newsletter

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Taxfile Autumn 2017 Newsletter

The Autumn 2017 edition of Taxfile’s newsletter is now out and it’s packed full of useful information, tips, recommendations and key dates in the tax and accounting calendar, including some things you need to act on right away if you want to save time and money. Here is a quick overview of the articles:

Page 1:

  • Self-Assessment Tax Return Deadline Approaches – Act Now!
  • Late with your Tax Return & Tax Payment for a Previous Year?
  • Taxfile Now Open Saturdays by Appointment
  • Deadlines & Key Dates
  • The Future is Digital

Page 2:

  • Accounting for VAT
  • Have you made a Capital Gain?
  • Assets Overseas? Non-Resident Landlord? Read This!
  • Do you Employ People?
  • C.I.S. Sub-Contractors: Claim your Tax Refund for Christmas!
  • Tip!

Page 3:

  • The Benefits of Using Taxfile
  • All Your Tax & Accounting Needs Taken Care of
  • Tax Affairs in a Mess?
  • Who Works at Taxfile?
  • Thank You

If you haven’t already received a copy by email, then view the newsletter online here or Read more

Tax returns & tax refunds, South London

Need help with your 2016-17 tax return?

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Tax returns & tax refunds, South London

Act fast to save money!

[Updated 21 December 2017] Do you need Taxfile to sort out and file your tax return? We’d be very happy to help and do well over 1000 Self Assessment tax returns for customers every year.

However you need, please, to start giving us your paperwork ideally during December or, at a push, up to the 10th January 2018 absolute latest if you are to avoid the price increases that may come into effect thereafter. (Price increases are sometimes necessary during the busiest accounting months of the year in order to cover the extra staff needed, overtime for long hours, evening and weekend work, particularly to work on returns for those who have left it until the last minute. After 10th January, the accounting world goes mad as everyone tries to hit the January tax return deadline all at the same time — we’ll have something like 400 last-minute tax returns to do in one crazy month). So the message is:

Avoid both the bottlenecks — and a likely price increase from 10th January 2018 — by coming to see us for your tax return as soon as possible. You can book your appointment online at taxfile.co.uk/appointments/ or call the office on 0208 761 8000 (07766 495 871 after hours). If English is not your first language we can still help, as our team speaks a variety of languages.

Please don’t leave it to the last minute – thank you.

We’ll require your records, figures and receipts for the financial year 6 April 2016 to 5 April 2017.

TODAY is the deadline for submission of your tax return. Contact Taxfile for help filing & avoid a minimum £100 fine!

10 DAYS to the Self Assessment Tax Return Deadline!

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10 days to the Self Assessment tax return deadline

There are just 10 days left in which to file your Self Assessment tax return with HMRC. Miss the deadline (11.59pm on 31st January 2017) and you’ll straight away be in for a £100 fine from HRMC, so don’t delay — contact Taxfile TODAY to book an appointment with one of our helpful tax advisors and accountancy experts.

We’ll make filling in and filing your tax return a breeze and what’s more, we’re currently open 6 DAYS A WEEK from now until the end of January (Saturday mornings by appointment). Don’t leave it to the last minute, though, as there is always a bottleneck for those who do — so come in as early as you can this week.

It doesn’t matter if you have zero tax to pay – you still need to submit your tax return on time! You also need to have paid HMRC any tax due for the 2015-16 financial year by the same 31 January deadline.

So get our professional help with filing of your tax return — you can book an appointment online, drop by the Tulse Hill shop to book one, send us an email message via our contact form or, better still, simply call us on 0208 761 8000 and we’ll book you in and help sort out your tax return accurately and on time. Don’t delay — time is quickly slipping by!

This Week Only – Beat the Tax Return Price Increase!

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Beat the Tax Return Price Increase

Beat our 2017 price increase and get your tax affairs in order before the January rush by coming in to see Taxfile for your Self Assessment tax return before December is over.

It might be Christmas week for many but our staff are ready and waiting to help you get your figures correct and to fill out your tax return for you before the January rush. When complete, we’ll submit it to HMRC for you so you can relax for the start of the New Year, avoid any bottlenecks AND save money.

During January some of our prices will increase just a little, as forewarned in our previous post. This is simply to cover some of the overtime and extra hours that Taxfile staff will need to work during January, our busiest time of year, covering all the last minute tax returns. But don’t leave it until January — book an appointment with us during the remainder of December and you’ll save! Call 0208 761 8000 or book an appointment online here.