Problems Paying your Tax in Coventry? Cheylesmore Accountants
Problems Paying your Tax in Coventry? Hundreds of people are not able to pay their tax on time and some are worried sleepless nights about losing their home, job or office, going bankrupt, or even charge to go prison. Your current situation may not be as worst as you think, but you should act upon quickly. If you do not take this matter seriously, you maximize the chances of legal action against you. The worst factor is to avoid the matter.
Problems Paying your Tax in Coventry? Though, you will understand and aware that you have unpaid tax in one of the following ways: 1. You may have received a notify bill for late filing penalties for a self-assessment tax return. Then, you should take a review at the information on late filing penalties.
Problems Paying your Tax in Coventry?
2. You may get a letter from HMRC (HM Revenue and Customs) presenting that not enough tax was taken off your pension income or employment and enclosing a calculation of the tax “underpaid”. These letters are now being sent out to individuals who have not paid their tax yet, have not previously had much contact with HMRC and the action to be taken is illustrated in the Recovery of underpaid PAYE section.
Problems Paying your Tax in Coventry?
3.If you already been sent a tax return, you may get a letter from HMRC stating that tax is due. It could be in the form of a letter or a phone call demanding payment under threat of legal action.
Problems Paying your Tax in Coventry?
Note:Â Do not neglect the letter, phone call, or demand from HMRC stating that tax is payable, as this will generally make things worse. Frequently, a quick response can minimize the range of the tax complications.
Problems Paying your Tax in Coventry?
There are rigid penalties for filing late tax returns and interest is charged on tax paid late, so it is crucial that the deadlines, which are determined by your company’s annual accounting date, are adhered to.
Problems Paying your Tax in Coventry?
Our Coventry accountants can assist with the personal tax return preparation, preparation of company accounts, company tax returns, and tax computations. We will be able to provide tax advice in Coventry that may benefit you and your company.
Problems Paying your Tax in Coventry?
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