With the self-assessment tax deadline now just days away, many businesses will need to pay the second installment of their self-assessment tax bill.
In the first half of the year, HMRC reported that the highest number of returns were submitted on Friday 29th January, just two days before the January deadline. The race to submit returns close to the deadline date highlights that HMRC’s new digital campaign, 'Making Tax Digital’ is essential for many businesses.
According to HMRC, 86% of self-assessment tax returns are now made online.
Making Tax Digital
- Businesses won’t need to re-submit company information
Any information HMRC holds on their accounts can be accessed at anytime
- Real-time reporting
Businesses should not have to wait until the end of the tax year or even longer before knowing how much tax they should pay
- Tax in one place
By 2020, users will be able to see all their financial information in one place. HMRC have compared the system to an ‘online banking account’
- Individual taxpayers to go digital
Delivering digital access to all individual taxpayers
We’ve assisted over 7,000 businesses to finance their tax bills
Our tax loan product is purposely designed to assist in spreading essential tax repayments over 10 or 12 month term. Whether you have allocated the funds for this payment already, or are looking for another means of covering your bill, an LDF tax loan could provide you with a fast and flexible solution.
"I regularly use LDF to assist with asset funding, licence funding and tax funding; they are always quick, efficient and generally easy to deal with. My contact is Jason Morgan and I can't speak highly enough of the service he provides."
Keen Dicey Grover Chartered Accountants