Fast cars, the passage of time and tax

I’m not particularly keen on Jeremy Clarkson.

I find him boorish and quite frankly a bit of a buffoon. Yes some of the stuff with “the lads” can be funny. I’m not that naive to not realise a lot is stage managed. I do though think the BBC will tire of him eventually.

I must admit I did once read one of his books. More surprisingly he did write something that struck a chord. Not at the time, but later. He wrote something like – life goes slow, but once you reach a certain age (30 I think) it’s like putting on a jetpack and then wooshhhhhh. Very true!

Time does fly and yes it’s soon time for that Self Assessment again.

Do you put this off every year? A lot do. The tax year ends 5th April and the deadline is not until 31st January in the following year. That’s if you file online. If not you have missed it. You get just under ten months. Even if you file before then the money doesn’t become due.

There’s really no reason to leave it to the last minute. It pays to be realistic and know what tax is due. You never know a refund may be coming your way and this is usually paid promptly. To reclaim it’s very straight forward. We will administer and it’s included in our fees. As a client of ours we will always remind you so as to avoid penalties and interest. You never know an accountant’s view could also suggest a few legitimate savings.

We can take away all your hassle and let you concentrate on the more important things. Get in touch and give us a try, and with that jetpack next year will be here before you know it.

If you found this interesting or useful please like, comment or share. If you need someone to take care of it all please get in touch.

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Self Assessment Tax Return – Why not submit it a bit earlier this year?

As you are probably aware the last tax year ended on Friday 5th April 2013.

Generally the deadline to get your tax return to the HMRC is 31st October 2013 if you send a paper return. If it is done online you have until 31st January 2014. Most professional accountants will submit online so if an accountant is in the picture then that will be your “drop dead” deadline.

Why not get it submitted that bit earlier? It may benefit you

  • It allows the 31st July on account payment to be more closely aligned with the actual tax bill. In fact it can even reduce this payment if profits are down
  • It could prompt a tax refund if one is due
  • It allows you to better plan your own personal finances and reduces shocks.
  • You may catch your accountant at a less busy time of year when there’s more time to chat about business and finances
  • There’s less chance of forgetting later and incurring penalties.

Don’t put it off. At AIMS Accountants we can schedule your fees by standing order so it doesn’t dent the cash flow too much.

Why not give it a try?

The small print http://www.hmrc.gov.uk/sa/deadlines-penalties.htm#2

Blogging – Let’s give it a try

I’m not a journalist or a marketing professional so why do I want a Blog? I do Twitter, LinkedIn and have a series of webpages as part of AIMS Accountants, the national UK franchise network. All pretty good in their own respects.

Part of me wants to dabble and add a new skill. Part wants another outlet to explore some of the issues concerning small business and the accounting & tax issues surrounding them.

Here goes.