Early action on tax is a must

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Small firms across Sheffield are being urged to make an early New Year’s resolution and complete their self assessment tax returns now, to avoid hefty fines.

The advice comes from Robin Milnes who runs TaxAssist Accountants in Sheffield.

Mr Milnes said: “Local businesses must submit their tax returns by January 31st or face a fixed penalty of £100, even if they have no tax to pay or have paid the tax they owe.

“Christmas and New Year can be a hectic time for small businesses in Sheffield, particularly those involved in the leisure or tourism sectors, or retailers.

“We’re urging local businesses to start tackling the returns now and enjoy peace of mind.”