Tax returns - no more time extensions
As HMRC moves to increasing on-line filing it has announced that the long-standing concession that allows businesses to submit certain tax returns within 7 days of the deadline without incurring a penalty is being abolished.
From 31 March 2011:
- Corporation Tax returns
- Employers’ PAYE returns – P35/P14; and
- Contractors’ deduction returns
submitted after the deadline will be liable for an automatic penalty.
Cathy Corns is a tax adviser and a partner at Mercer & Hole. The views given in this blog are personal to the author, if you would like to discuss the contents of this post with Cathy you can call her on 01908 605552.
Date: 3rd August, 2010
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