With the festive season fast approaching, many companies start to wind down as thoughts about work turning into dreams about time off during Christmas and New Year.
Although it’s good for bosses to take a break, SBP Accountants and Business Advisors, which has offices in Aberdeen, Peterhead, Fraserburgh and Banff, has warned businesses and individuals to take extra care throughout December to ensure they are up to date with their taxes or they could get a nasty surprise from the taxman.
Head of tax at SBP, Alan Masson, said that although the January 31 tax deadline might feel like a long time away, getting carried away with celebrations could see people forgetting to set time aside to complete the form. Failure to return your digital form to HM Revenue and Customs (HMRC) and pay any remaining tax due will result in a fine of £100, which is the last thing needed after the excess of the Christmas season.
