Harper Sheldon Limited

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Welcome to Harper Sheldon

Your trusted partner for comprehensive accounting and financial services in Gloucestershire and beyond. We offer a wide array of solutions, ranging from accountancy and audit to taxation and payroll, ensuring all your financial needs are met under one roof.

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Record number of taxpayers file on time
08/02/2024

HMRC has confirmed that more than 11.5 million people submitted their 2022-23 self-assessment tax returns by the 31 January deadline. This included over 778,000 taxpayers who left their filing until the final day and almost 33,000 that filed in the last hour (between 23:00 and 23:59) before the deadline!

Whilst this was the highest ever number of filings, there are still an estimated 600,000 taxpayers that have missed the deadline and are yet to file. Are you among those that missed the 31 January 2024 filing deadline for your 2022-23 self-assessment returns?

If you have missed the filing deadline then you will usually be charged a £100 fixed penalty if your return is up to 3 months late, regardless of whether you owed tax or not. If you do not file and pay before 1 May 2024 then you will face further penalties unless you have arranged to pay with HMRC.

If you are unable to pay your tax bill, there is an option to set up an online time to pay payment plan to spread the cost of tax due on 31 January 2024 for up to 12 months. This option is available for debts up to £30,000 and the payment plan needs to be set up no later than 60 days after the due date of a debt. This should be done sooner rather than later as a 5% late payment penalty will be charged if tax remains outstanding, and a payment plan has not been set up, before 1 April 2023.

If you owe self-assessment tax payments of over £30,000 or need longer than 12 months to pay in full, you can still apply to set up a time to pay arrangement with HMRC, but this cannot be done using the online service.

You can also plan ahead for the 2023-24 tax year by spreading the cost of your tax bill using HMRC’s Budget Payment Plan. The Budget Payment Plan enables those who are up to date with previous payments to make regular weekly or monthly contributions towards their next tax bill.


Latest News

When you cannot use the Property or Trading Allowances

18/07/2024 – Two separate £1,000 tax allowances for property and trading income were introduced in April 2017. If you have both types … More...

The NIC Employment Allowance

18/07/2024 – The Employment Allowance benefits eligible employers by reducing their National Insurance liability. The current … More...

Child benefit for 16 to 19 year olds

18/07/2024 – The child benefit rates for the only or eldest child in a family is currently £25.60 and the weekly rate for all other … More...

Gains on sale of shares

18/07/2024 – Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% (but see comments below) when you sell shares … More...

Contact Us

Harper Sheldon
Midway House, Staverton Technology Park, Herrick Way
Staverton
Gloucestershire
GL51 6TQ

01242 513232

This email address is being protected from spambots. You need JavaScript enabled to view it.

www.harpersheldon.com

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