Did you miss the Self-Assessment deadline?

February 5, 2020

Are you among the over 958,000 taxpayers that missed the 31 January 2020 filing deadline for 2018-19 Self-Assessment returns? If you missed the filing deadline you will be charged a £100 fixed penalty if your return is up to 3 months late, whether you owed tax or not for the 2018-19 year.

If you do not file and pay before 1 May 2020, you will face far greater penalties. A daily penalty of £10 per day, up to a maximum of £900 (90 days), will be charged from 1 May 2020. Further penalties will apply if your return is still outstanding for more than 6 months after the 31 January 2020 filing deadline. From 1 August 2020, you will be charged a penalty the greater of £300 or 5% of the tax due. If your return still remains outstanding one year after the filing deadline, further penalties will be charged from 1 February 2021.

You can appeal against any penalties that have been issued and HMRC has said that they will treat appeals where tax-payers have genuine excuses, leniently. However, you need to act fast and the excuse must be genuine and HMRC can ask for evidence to support any claim. An appeal must usually be made within 30 days of receipt of the penalty.

If you need help sorting out a late return, please call. It is better to resolve any late filing issues sooner rather than later in order to reduce your exposure to interest and penalty charges. We can also help you make an appeal if you have a reasonable excuse for late filing.

Did you miss the self-assessment deadline?

February 20, 2019

Are you among the 700,000 taxpayers that missed the 31 January 2019 filing deadline for your 2017-18 self-assessment returns? If you missed the filing deadline then you will be charged a £100 fixed penalty if your return is up to 3 months late, regardless of whether you owed tax or not.

If you do not file and pay before 1 May 2019 then you will face far greater penalties. A daily penalty of £10 per day, up to a maximum of £900 (90 days) will be charged from 1 May 2019. Further penalties then apply if your return is still outstanding for more than 6 months after the 31 January 2019 filing deadline. From 1 August 2019 you will be charged a penalty of the greater of £300 or 5% of the tax due. If your return still remains outstanding one year after the filing deadline, then further penalties will be charged from 1 February 2020.

You can appeal against any penalties that have been issued and HMRC has said that they will treat those with genuine excuses leniently. However, you need to act fast and the excuse must be genuine and HMRC can of course ask for evidence to support any claim. An appeal must usually be made within 30 days of receipt of the penalty.

Testimonials

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“Keith is one of the best accountants I have ever met.  He knows his subject and almost without fail will save SMEs money (and potential problems!) far in excess of his fees.  He will offer free advice over the phone and his expertise also extends from accountancy into providing sound business advice.  If you have any questions about your accounts or are subject to a tax.”

Graham Drage – WSI Internet Consulting

“Keith and Ojoe of Alden & Co have been my Accountants for 5 years and I have to say that Alden & Co are very beneficial to me. Their expertise and guidance has allowed me to get on with growing my business whilst they look after the accounts.  I would have no hesitation to recommend Alden & Co to any business, friends and relatives.”

John Hawkins – Bowater Price Plc

“I have been using Alden & Co for a few years now, and have always found them to be a friendly, empathetic, knowledgeable and extremely competent company.   Keith, Ojoe and the team are always willing to help wherever they can, with a professional approach at all times.   Tax doesn't need to be taxing, and it's far from it with Alden & Co.”

Sean Dennis – Superior Surfaces Ltd

“Keith, as well as being generous in his praise of myself and BRI, is a man to have on your side. Not your stereotypical accountant (if there ever was one) but a man for whom ethics isn't simply a county near Sussex. Like myself, Keith has trained for many years in martial arts and the values from these hours of discipline, physical and mental rigour appear to shine through in what he brings to his work. No nonsense, practical and, if needs be, firm advice - very much an iron fist in a silk glove.”

Peter Windatt – Business Recovery and Insolvency

“Keith is what you want from an accountant; trustworthy, deeply knowledgeable, up to date, personable, happy to explain things to the nth degree without `glazing over`, rates that reflect his abilities, highly respected within his profession and the wider business community, and very, very forward thinking in his approach to accounting. Would i recommend Keith and his side kick Ojoe? I have done so dozens of times to my clients and friends and all of them have nothing but praise for him. He is also witty and fun to have around quite unlike the normal dour characterless stereotype of an accountant. One last thing; he is much respected by HMRC which is a great boon when you happen to have a disagreement with them as they actually sit up and take notice when Keith has to speak with them on your behalf. In short I would say that Keith is the consummate accountant; you will not find better!”

Bob Hulstrom Owner – Positive Solutions

“Keith Alden always has time for his clients and never fails to give excellent advice. He handles both my personal and business accounts and has saved me far more than his fees.  I thoroughly and wholeheartedly recommend Alden & Co to anyone who pays tax.”

Mark Young – Miele Co Ltd

“Keith is without doubt the most trustworthy and conscientious accountant I have ever done business with. I have been in Banking since 1973 and whilst I have only known Keith for a few short years he ticks all the boxes when it comes to accountancy advice and support. In the last 20 years I have specialsed in Business Banking and he is without doubt the best provider of the level of support and expertise for large and small business I have ever met in the accountancy profession. He is my personal accountant and has done a brilliant job for me. I highly recommend his services.”

Gregory Warman – Royal Bank of Scotland Group

“Keith has been a real asset to my company. I have been using Alden & Co since 2004 and only have good things to say about the company. I thank my local Barclays Business Manager for recommending them to me.”

Sean Thompson – Thompson Media partners

“Keith’s knowledge of accounting matters is second to none. He ensures compliance in every area yet still manages to save his clients money in ensuring all allowances and tax deductions are made. Keith is highly recommended and all accountants should follow his lead.”

Nick Green – Just Lets