Happy New Year to everyone!  We hope that 2016 is a happy, healthy and prosperous New Year for you all.

We are on count down until 31 January 2016 which is the last date for filing your self assessment tax return.  Failure to do so may well result in a £100 fine.  And remember that 31 January 2016 is a Sunday and most accountants work five days a week and not seven.  So really the last date for filing is Friday 29th January 2016 – it will be a late night that night no doubt!

Many clients may find themselves hit with a nasty tax bill, perhaps even pushed into the higher tax bracket for the first time.  These events can be planned for with some forward planning.  So if you are shocked at what you have to pay on 31 January 2016 and you don’t want the same thing to happen on 31 January 2017 then why not speak to your accountant at the beginning of February and ask them to assess what your likely tax bill will be, and then plan for it before the end of this current tax year.

Forewarned is forearmed, as the saying goes!!