20% of SME's to miss tax return deadline

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20% of SMEs to miss tax return deadline

Terry Lane - Friday 25.01.08, 11:44am

A staggering 20% of SMEs will miss the self assessment tax return deadline on 31st January and recieve a £100 fine by the HM Revenue and Customs (HMRC) , according to a poll by accounting software company, Kashflow.The result being the Inland Revenue is set to receive an extra £200m in late payment charges.

When asked over 50% suggested late returns would be a result of not having sent the information to their accountant, while 32% complained the forms were too confusing.