Failure to complete
self assessment accountant online before January 31 is subject to penalties. An initial £100 fine is applicable irrespective of a day’s delay in the submission being made. If you delay it for 3 months, they can charge you £10 daily up to £900. Such failures as six months and one year lead to increased penalties, which can be up to 5% of the amount of tax. There can also be interest in respect of unpaid taxes. So, to prevent these penalties one should file as soon as possible and if there is a need to turn to the help it is better to do it.
