Tax deadline imminent for employers and contractors

Tue, 16 Apr 2019

The 5 May 2019 deadline for submitting contractors' and employers' tax returns is now just over two weeks away.

If the Income Tax Division has not received the tax returns for the year ended 5 April 2019 by 5 May 2019, a £250 penalty will be charged.

Contractors and employers may also be liable to a penalty charge of £50 a day for each day that the return continues to remain outstanding, starting the day after the £250 penalty is charged.

Even if the penalties are paid, the tax returns must still be submitted and the contractor or employer may be prosecuted for failing to do so.

Employers are reminded they can submit their tax return online. Anyone who is interested in doing so should go to www.gov.im/onlineservices in order to register for Government Online Services and then follow the link to enrol for Income Tax Services.