ACCA (the Association of Chartered Certified Accountants) is today reminding anyone who submits a paper self assessment to return their forms to HMRC (Her Majesty’s Revenue and Customs) by the end of October or face a minimum £100 fine, even if no tax is owed.
Chas Roy-Chowdhury, ACCA head of Taxation said: 'HMRC is adamant that the fine will apply whether of not any tax is owed and even if any outstanding tax is paid by the end of January. It is hugely important that you make sure your return is filed with HMRC by the end of the month.
'In the current economic climate, when finances are tight for many individuals and businesses, the last thing you need is to be facing a fine. I would strongly advise anyone who is unsure of the information they are submitting to seek the advice of a qualified accountant.'
The deadline for those who submit their self assessment electronically is 31 January.
- ends -
For more information, please contact:
Ray Allger, ACCA UK Newsroom
+ 44 (0)20 7059 5788
+44 (0) 7540 919 819
Notes to Editors
- For more information about self assessment and the filing deadlines, visit the HMRC website via the 'Related Links' section, to the left of this article.
- ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.
- We support our 154,000 members and 432,000 students in 170 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. We work through a network of over 80 offices and centres and more than 8,400 Approved Employers worldwide, who provide high standards of employee learning and development. Through our public interest remit, we promote appropriate regulation of accounting and conduct relevant research to ensure accountancy continues to grow in reputation and influence.
- Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. We believe that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. Our values are aligned to the needs of employers in all sectors and we ensure that through our qualifications, we prepare accountants for business. We seek to open up the profession to people of all backgrounds and remove artificial barriers, innovating our qualifications and delivery to meet the diverse needs of trainee professionals and their employers.