Small businesses across Bedford are being urged to file their self assessment tax returns early to avoid costly disappointment.
Andrew Logan. who runs TaxAssist Accountants in Bedford. said: “Local businesses must submit their online tax returns by January 31 or face an on the spot penalty of £100 for filing even a day late, even if they have no tax to pay or have paid the tax they owe.
“Filing early doesn’t mean you have to pay any tax due early, but if you are due a refund, HMRC will return this to you sooner.