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Self-assessed tax return deadline approaching
The deadline for self-assessed tax returns is steadily approaching, and any self-employed painters and decorators who haven't yet found the time will need to fill in their online tax return by the end of the month.
Tradesmen who run their own business have to get their returns to HM Revenue & Customs (HMRC) by midnight January 31st. Luckily the HMRC's simple, safe and easy-to-use website does all the tricky calculations for you.
If you've never filed your returns online before however, you need to register and request a secure password on the website, which will be sent through the post. This can take up to two weeks, so it's important to get cracking if it's slipped your mind.
If you don't manage to submit your tax returns on time, you could face an automatic penalty of £100, even if you have no tax to pay or have paid the tax you owe.
For more information on how to submit a self-assessed tax return, or to check whether you need to, go to: www.hmrc.gov.uk/
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