Award-winning practice Salhan Accountants is reminding businesses and individuals across Birmingham, the Black Country and the West Midlands to get their self-assessment tax returns in before the deadline in January 2018.
Companies and individuals only have a matter of weeks left until the online self-assessment deadline passes at midnight on 31 January 2018.
Those who fail to meet the filing deadline could be issued with an automatic fine of £100, with further fines issued the longer they leave it to provide the necessary information to HM Revenue & Customs. This applies even if there is no tax to pay, or if the tax due is paid on time.
Any tax due from the previous year must also be paid by midnight on 31 January, or penalties may also be issued for late payment of tax.
Salhan Accountants recently expanded its offices by moving to the 15th floor of 54 Hagley Road to accommodate its growing team who annually deal with hundreds of returns from some of the region’s top companies.
The firm says that its new location means it is ready to help any businesses or individuals that may be panicking about the approaching deadline.
Dr Anjulika Salhan, Director at Salhan Accountants, said: “Every year we encounter businesses or individuals that fail to properly prepare themselves for submitting their tax returns on time, but it is a legal requirement to do so for many and failing to submit could quickly land a person or firm in hot water.
“It is important that those who haven’t begun preparing don’t panic and seek professional advice as soon as they can. Leaving a tax return until the last minute increases the chances of costly errors being made, which could lead to an expensive and stressful tax investigation.”
To mark the opening of its new offices in Birmingham, the firm will be holding an inaugural opening on 9 February 2018, which will be attended by a number of prominent individuals, including local MP Preet Gill.
