Last minute tax returns - most effective way?

SarahS

Hi

I was just wondering in other MiPs experience, the most effective way in submitting last minute tax returns taking into consideration of the 64-8 process etc. Interested to hear others thoughts. I haven't had any enquries yet but I wouldn't be surprised to receive last minute queries. Obviously time is restricted and it would be difficult to guarantee submission on time in certain circumstances.

Sarah

Anne Boleyn

Last minute tax returns

Hi Sarah

I purchased the Legatio ftax agent 30 program so I could file partnership returns online as not provided by HMRC and the one I bought came with 30 self assessment credits. Therefore I can file 30 tax returns for people/clients who aren't on my authorised list. I believe it is only around the £100 mark.

Hope this helps

SarahS

Hi Anne

I've got a full trial version of TaxCalc at the moment and I think that does the seem - clients don't necessary need to be authorised to submit the return.

Last year I did have one enquiry from somebody (about this time in January) who didn't even have a UTR number but needed to submit a return by 31 Jan! I sent off 64-8 for newly registered self employed last month but the individuals still aren't appearing on my client list...probably due to the UTRs needing processing!

JodieR

Also remember to point out to clients that so long as their tax is paid on time, any late filing penalty will be reduced to nil anyway. I also use FTax (Legatio) so can file returns before a client's on my list, but I believe that even with HMRC's software you can prepare a return before the 64-8's in place, so you can still provide the client with a return and an amount of tax to pay even though you may not be able to submit it on time.

Guest

JodieR wrote: »

Also remember to point out to clients that so long as their tax is paid on time, any late filing penalty will be reduced to nil anyway. I also use FTax (Legatio) so can file returns before a client's on my list, but I believe that even with HMRC's software you can prepare a return before the 64-8's in place, so you can still provide the client with a return and an amount of tax to pay even though you may not be able to submit it on time.

You sure?
Reduced to Nil if no tax payable and return sent in late.

Bluewednesday

JodieR wrote: »

Also remember to point out to clients that so long as their tax is paid on time, any late filing penalty will be reduced to nil anyway. I also use FTax (Legatio) so can file returns before a client's on my list, but I believe that even with HMRC's software you can prepare a return before the 64-8's in place, so you can still provide the client with a return and an amount of tax to pay even though you may not be able to submit it on time.

I'm pretty sure that doesn't apply this year - a real shame as that was a useful work around!

JodieR

I know it's always been the case in the past and have attended a few CPD courses this year covering this type of thing and nothing's been mentioned that it's changed. According to this website http://www.hanleyandco.co.uk/2009/11/late-tax-return-and-payment-penalties.html it still applies, but I stand to be corrected!
Jodie

JodieR

http://www.hmrc.gov.uk/sa/deadline-news.htm

Straight from the horse's mouth...

If HMRC receive your tax return after 31 January you'll get a late filing penalty of £100,

If you miss the deadline for your personal tax return, you won't have to pay the penalty if you pay all of the tax you owe by 31 January

lorraine

Very useful to know, thanks JodieR

JodieR

Useful article on this topic:-

http://www.accountingweb.co.uk/topic/tax/no-utr-guide-your-options/397786

Dottie

The outstanding tax due - does that include the payment on account as well?

Dottie

deanshepherd

Nope, just the tax for 2008/09.