SMEs 'need reassurance' over tax returns

Small and medium-sized enterprises (SMEs) must get reassurance that their tax return has been logged, the Federation of Small Businesses (FSB) has said today.

With the 31 January deadline fast approaching, the FSB has called on HM Revenue & Customs (HMRC) to make sure they are ready to cope with a last minute rush.

The FSB also warned that SMEs should ensure they get receipts to prove the tax return has been logged, even if they submit the paperwork at their local tax office.

Simon Sweetman, FSB tax spokesman, criticised HMRC after it refused to guarantee that everyone submitting their returns on the final day would get a receipt. He said: "There is no excuse for HMRC not to be fully prepared for the inevitable surge of tax returns in the run up to the deadline."

"We urge them to make sure that they allocate adequate staff and resources to cope with the influx," Mr Sweetman added.

HMRC has already come in for criticism from other areas after it announced that those missing the deadline would be fined £100.