Ever since Instafile was launched, we’ve been working closely and tirelessly with small businesses across the UK to understand their accounts and tax filing needs, and the problems they face.
We’ve talked to a lot of of business owners and one of their primary concerns is the risk of an unexpected late filing penalty.
As our chart shows below, the costs of these penalties can quickly mount up and that’s before you consider the additional stress and risk of error that often comes hand-in-hand with a missed filing deadline.
The filing rules are set out on the government’s website but they are not always easy to understand and apply in relation to your company. They are certainly easy to forget when you are busy prioritising the growth of your business.
With that in mind it is perhaps not surprising that Companies House issued as many as 189,000 late filing penalties totalling £89m to UK businesses in the year ending March 2016.
To help small business owners avoid any confusion around their own filing and tax payment deadlines, the team at Instafile have built an easy-to-use online tool that allows you to see them all at the click of a button, and it will even remind you of your deadlines nearer the time if you want it to. All you need to know is your Company Registration Number.
You can find the free calculator here.