Business Owners Warned to File Tax Returns on Time

HM Revenue & Customs (HMRC) has warned business owners and the self-employed to file their self-assessment forms online by 31 January or face a £100 penalty.

Business owners who are new to filing online can visit the HMRC website and click on Register for Self Assessment Online before 21 January. An activation code will then be posted within seven days.

31 January is also the deadline for paying any tax owed for the 2009/10 tax year. HMRC has warned that self-employed people who are unable to pay their bill in full and on time should contact the department as soon as possible.

“The sooner you contact us the sooner we can begin working with you to find a solution.”

said an HMRC spokeswoman.

“We may, in some circumstances, allow you additional time to pay.”

For more information, visit the HMRC’s self-assessment pages.

Business Owners Warned to File Tax Returns on Time

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