January 31st Tax Return Deadline
January 2010
If you are like me you will have spent at least some time over the Christmas period pouring over paperwork for the dreaded tax return—and vowing as ever that next year you will be more organised.
Many new landlords with perhaps just one property wonder if it’s necessary to do a tax return?
The answer is definitely yes, and you should do it even when you have made a loss as any losses can be carried forward if these have been recording with HMRC.
Being organised and having all the necessary paperwork to provide an audit trail is most important.
The tax authorities are likely to come down hard on landlords that don’t comply with the tax rules, so be warned.
Remember – you need to do your Tax Return online by Sunday 31 January
If you haven’t sent your Tax Return to HM Revenue & Customs yet, you’ll need to be quick, or you may get a £100 penalty. Make sure you visit www.hmrc.gov.uk/sa and do your 2008/09 Self Assessment Tax Return online by 31 January.
Why not do it today and get it out of the way?
For further help, including a ‘Step by Step’ guide to Self Assessment online filing and a bite-sized video, visit: www.businesslink.gov.uk/hmrctaxhelp
Tom Entwistle, Editor
January 31st Tax Return Deadline
TWD Accountants have provided the content for this month’s Newsletter.
With over 30 years experience in practice they provide advice and guidelines to help landlords and small businesses find their way through the UK tax maze.
TWD currently employ 120 people, preparing accounts for over 3,000 clients and filing in excess of 7500 returns each year.
This has allowed them to become an established part of the small business accountancy sector.
Due to their success they now have a dedicated team dealing with the accountancy needs of many landlords.
If you want to know more, call them on 0161 968 7322 and quote LandlordZONE or go online to: www.twdaccounts.co.uk/ref/landlordzone
Meet the team:
Christine Fairbrother AAT Christine is the Manager of TWD Tax Services Ltd & TWD Accountants.
She joined TWD as manager in April 2004, having previously Worked for H M Revenue & Customs in 1997, to expand her tax knowledge in a local practice and now bringing her expertise to TWD.
Julian Shaw is instrumental in the development and promotion of TWD Online, an online accounting system aimed at small businesses, landlords and business start-ups.
He also writes comments and news on tax and accountancy on behalf of TWD Accountants.
His articles and blogs appear regularly on sites such as MSN Money and Yahoo.
Download LandlordLOG in Adobe® .pdf format:
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