Wellers Accountants helps taxpayers avoid charges

Wellers Accountants advises self employed workers in the construction not to miss the self assessment deadline for tax payments.

Taxpayers who missed the January 31 deadline and still have outstanding tax and National Insurance (NI) liabilities for the year ending 5 April 2009, will face a hefty surcharge of 5 per cent after the 28 February.

Interest on any outstanding tax will have been accruing at a rate of 3 per cent but the real sting in the tail, according to Wellers Accountants, is that the 5 per cent surcharge will be in addition to any interest payable if the liability remains unpaid by the 28 February.

This surcharge applies only to the unpaid 2008/09 tax liability and not to the unpaid payments on account being made for 2009/10.

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