Knowledge Centre
27th December 2007
Online tax return help for SMEs
Thousands of small business owners struggling to fill out their self assessment tax returns before the January deadline can now watch a video podcast to show them how to do it online.
The short film, produced by HM Revenue and Customs (HMRC), can be downloaded onto an iPod or watched online. As well as guiding viewers through the entire process, it provides useful advice such as listing the sort of information that small and medium enterprises (SMEs) need at hand.
According to HMRC, the online self assessment system is the fastest and easiest way to complete a tax return. Individuals who fail to file a return and pay any tax due by 31 January will incur a £100 fine.
Filing online provides users with an instant tax calculation, and refunds can be made more quickly than with a paper return. HMRC also says that it is easier to pay online via the Billpay service.
HMRC head of self assessment Paddy Linford said: "Filing online is safe, secure and easy, and last year around a third of SA tax returns were filed online. We want this figure to be higher.
"We hope that showing people how easy it is to use our online services will persuade more of them to make the switch from paper filing."
The short film, produced by HM Revenue and Customs (HMRC), can be downloaded onto an iPod or watched online. As well as guiding viewers through the entire process, it provides useful advice such as listing the sort of information that small and medium enterprises (SMEs) need at hand.
According to HMRC, the online self assessment system is the fastest and easiest way to complete a tax return. Individuals who fail to file a return and pay any tax due by 31 January will incur a £100 fine.
Filing online provides users with an instant tax calculation, and refunds can be made more quickly than with a paper return. HMRC also says that it is easier to pay online via the Billpay service.
HMRC head of self assessment Paddy Linford said: "Filing online is safe, secure and easy, and last year around a third of SA tax returns were filed online. We want this figure to be higher.
"We hope that showing people how easy it is to use our online services will persuade more of them to make the switch from paper filing."
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