31 July is the deadline for getting your tax credit update claim in. Read more about it on our pages on MSN Money.

http://money.msn.taxbuddies.com/news/accountancy-news/99/will-you-miss-out-on-tax-payments.html

and

http://money.uk.msn.com/

TWD have joined forces with Casting Call Pro, the online directory of professional actors, presenters, agents and casting professionals.

The tax and advice section looks at a number of different factors that can affect an actor, from agents’/managers’ fees to equity subscriptions etc. The information available covers topics like tax returns, self-employed accounts and online bookkeeping.

For more information click here

Also please look out for our comprehensive Actors FAQ section, featured within the Casting Call Pro Actors handbook due out next month.

Part of the challenge or being involved in a business like TWD Accountants is the challenge in finding new clients.

As a fixed fee service it is very difficult to find target markets where you can price competitively AND have a direct route to the market. One of the areas we are have been marketing to over the last few years has been to Driving Instructors. We have been associated with the Motor Schools Association for many years and also BSM where we have long standing arrangements; this has helped us become specialists in Driving Instructor accounts. We are slowly building up our portfolio of ‘Partners’ in the ADI industry and I am pleased that we have just added a new section to the Driving-Schools-Directory aimed specifically at Driving School Tax.

I know this will not be the last of these arrangements as the marketing team here are working hard in building new relationships. These take time but can be very beneficial to all parties if done correctly.

Keep up the good work!

The deadline for submitting your tax return is fast-approaching. We are no longer able to take new clients, so we have some tips to help make this an easier process.

31 January deadline

If you have a tax return and do not file it on time you will be fined £100.

If the return was issued in April 2009, or any time up to 31 October 2009, it must be submitted by midnight on Sunday 31 January 2010, with a very small number of exceptions.

(If you were sent a return after 31 October 2009, you have three months from the date it was issued. You can file it online or by paper, and the guidance below does not apply to you.)

If HMRC receive your tax return after 31 January you’ll get a late filing penalty of £100.

Avoiding Penalties

If you pay all the tax you owe by 31 January you will not need to pay the penalty.

Submitting your tax return

You will now need to send your return online. If you send in a paper version at this stage, even before 31 January, you will be fined £100.

If you have previously filed online you can use the same system as last time.

You will need your user ID, which was sent by HMRC when you first registered. If you cannot find it, go to the HMRC online filing site where you will be able access ‘lost user id’ or ‘lost password’ services.

You will be asked a number of questions, following which replacement user ID and password can be issued. These may be sent online or by post. If you think you may have lost the details, give yourself plenty of time to get a replacement.

If you can find neither ID nor password you should contact the Online Helpdesk.

Registering to file online

If you have not previously filed online, you will need to register to obtain an activation code. You will not be able to file online without this code.

The code will be posted to you, and to ensure you receive it on time you must register by 21 January 2010.

Tips for online filing

There can be many people trying to file at the same time. In 2008, 200,000 people filed on 31 January. Try to do use quiet periods.

HMRC provide year round online services, 24 hours a day. Avoid delays by accessing them on weekdays after 5pm or before 8am.

There may be maintenance issues. Check the HMRC site for scheduled downtime.

Use the HMRC website for step-by-step guides, and also the built in help available in free HMRC software.

Visually impaired users can access specific help.

Paying your tax

As well as filing your return, whether paper or online, you must pay tax due for 2008-09 by 31 January 2010.

Direct Debit payments are now possible, provided you have registered online. Paying this way allows you to make a payment as soon as you have worked out what it should be.

HMRC now kindly let you manage your finances by setting up regular payments towards your next bill.

Exceptions to online filing

HMRC allow you to submit using a paper tax return after 31 October if:

• Their software cannot handle it, for example non-resident companies.
• You have been told that you cannot!

I’ve posted a news item on MSN Money about taxing carrier bags.

http://money.msn.taxbuddies.com/newsb.php?id=86

It’s something that has been a bug-bear of mine for quite a while, probably back to the incident I mention in the article.

Why it’s taken so long for it to be introduced here is beyond me. And it’s not even a reality yet. I suspect the oil lobby may have something to do with it, as the bag industry must be a good money spinner for them.

It’s easy enough to put in place, and it would, at a stroke, wipe out all the plastic rubbish blowing around our streets. It’s worked in Ireland, so why not do it here.

The person in charge of the Revenue, Dave Hartnett - officially the permanent secretary for tax - has posted a YouTube video with a dire warning to people who have undeclared tax.

This is part of a big push by the Revenue to get people interested in the current offshore disclosure window. Basically, if you have an offshore bank account and have not declared income from it, you have until 30 November to tell the tax man.

If you do, you may escape penalties or have them reduced. If you don’t you could end up with fines up to 100% of the tax owed. Or you could go to jail. The video attempts to put this point over in a clear concise way.

Admittedly the video is a bit dry, but it’s also quite hard hitting. Hartnett doesn’t mince his words - if you don’t use the amnesty, and you are later found to have undeclared income, you will be fined or go to jail.

We say it is important for HMRC to engage with people. They face a huge barrier when educating the public about tax matters, so any avenue they can take should be explored.

For more information on the tax amnesty and what to do if you think it affects you, go to our offshore tax disclosure section.

The video is here http://www.youtube.com/watch?v=a7qb8Y8RvE0 and some good comments are here on accounting web http://www.accountingweb.co.uk/topic/tax/dave-hartnett-youtube.

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