HMRC urges business owners to file tax returns on time
Business–owners and the self–employed must ensure they file their online self–assessment tax return before the 31 January deadline – or risk receiving a £100 penalty, HM Revenue and Customs (HMRC) has warned.
Those who send their tax return by paper, instead of filing online, could also receive a £100 penalty, as the new 31 October paper–filing deadline has already passed. HMRC spokesman Stephen Banyard said:
“Don’t forget — if you are filing your return in January, you need to do it online. It is quick, secure and convenient, and if you have not filed online before there is plenty of help and support available.”
Business owners who are new to filing online need to visit the HMRC website and click on ‘Register for Self Assessment Online’ before 21 January. A pin number will then be posted within seven days.
Any tax owed for the 2007–08 tax year must also be paid by 31 January.
Tax scam warning
HMRC has warned business–owners to watch out for a tax rebate scam in which fraudsters are targeting people in the run up to the self–assessment tax returns deadline.
The fraudsters are obtaining personal information by sending scam emails posing as HMRC offering tax rebates, and using the details they obtain to empty the victims’ accounts.
The fraudulent emails tell the recipient they are due a tax refund and ask for bank or credit card details. There have also been an increasing number of telephone calls made by fraudsters posing as tax officials. HMRC chief executive Lesley Strathie said:
“This is the most sophisticated and prolific phishing scam that we have encountered. We only ever contact customers who are due a refund in writing by post – we never use emails, telephone calls or external companies in these circumstances.”
“I would strongly encourage anyone receiving such an email to send it to us for investigation,” she added.
Read our article for more information about filing Self Assessment tax returns.