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self assessment

Limited company owners should make sure they meet the annual self-assessment deadline at the end of this month, as penalties for late submission can increase significantly the longer a return is outstanding.
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With the deadline for submitting paper tax returns having just expired, limited company owners have until 31st January 2013 to submit their self assessment returns for the 2011/12 tax year, together with any taxes they owe.
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From January 2013, new rules come into force which will make Child Benefit means-tested for the first time. The controversial changes mean than a couple earning £50,000 each could keep the benefit, but a couple with one single earner on £60,000 would lose the benefit entirely.
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