UK Money News
16th January 2008
Landlords 'must heed tax assessment deadline'
People who have invested in the buy-to-let market as a means of sourcing help with money should remember to file their tax returns if they wish to avoid later trouble with debt, according to warnings released today.
HM Revenue and Customs (HMRC) has reminded all small business owners - which includes landlords - of the January 31st deadline for such forms.
A spokesperson for the organisation said that around ten million tax returns were sent out each year, with the deadline applicable to all those already registered within the system.
"If you've got a new business and you haven't told us about it within three months then a separate £100 penalty could apply, because you haven't followed the registration process," she also warned.
The money news is complemented by data from the institution which indicates that one in ten recipients of tax returns failed to fill them in by the deadline last year.
Aside from landlords, the self-employed, company directors and others with complicated tax arrangements are likely to need to take heed of HMRC's warnings.
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