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Our survey says

Paystream News

Kerry Hull

Wednesday 25th Jan, 2012

With the personal tax deadline of 31st January 2012 fast approaching and coupled with HMRC's new penalty regime it'' now more important than ever to ensure you file your Self Assessment tax return on time. We asked our web visitors if they knew the circumstances in which they must complete a Self Assessment tax return and a staggering 81% advised that they didn't.

If you are an umbrella company contractor then it is unlikely that you are required to file a Self Assessment tax return, unless HMRC specifically ask, this is because you are an employee of the umbrella company. However because a limited company contractor is a director of their own limited company they are required to file a Self Assessment tax return.

Failure to meet the deadline will result in a non refundable fine of £100 even if you find that you have no further tax liability. Even if you are unable to meet the deadline of 31st January 2012, our Personal Tax team can still help to minimise any fines or penalties that may be due.

If you are like the vast majority of contractors that responded to our survey and are unsure if you need to complete a Self Assessment tax return, or are just looking for some advice please contact our Personal Tax team on 0161 929 6000, choose option 4, or visit here to request a call back.
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