The document discusses the upcoming January 31st deadline for submitting 2014 personal tax returns in the UK. It notes that if taxpayers are unable to complete their returns online in time, they can submit provisional figures to avoid penalties, but should amend their return later with correct information. Submitting provisional figures increases the risk of an audit by HMRC. The document stresses that taxpayers should be more organized for next tax year and prepare their return earlier in the year.

1. AlloA Advertiser Clackmannanshire’s Paper Wednesday 28th January, 2015 39
business
Advertiser
It Is now just a few days until 2014
personal tax returns are due to be
submitted online with HMRC and
any tax due paid.
If you don’t think you will be able
to prepare your tax return online in
time for midnight on saturday you
could always consider submitting
your tax return with provisional
figures.
Although not best practice, sub-
mitting your tax return with provi-
sional figures will avoid the late filing
penalty of £100 being assessed. You
should include your best estimate to
the actual figures in the tax return and
if appropriate include a correspond-
ing figure of tax due. Any provisional
figures included should be clearly
indicated on your tax return.
You should also include the reason
why you have used provisional fig-
ures and also indicate an approximate
time when final figures are likely
to be available. You should look
to amend your tax return submitted
with the correct figures as soon as
possible.
submitting a tax return with provi-
sional figures will not be regarded as
unsatisfactory by HMRC but it could
increase the likelihood of an enquiry
or investigation into your tax return.
A penalty for a careless or deliber-
ate inaccuracy in your tax return eg
making an estimate of taxable income
that you know to be too low, could be
charged by HMRC if they determine
that the amount estimated was not
reasonable.
If your provisional tax return re-
sults in tax being due then you should
arrange to pay this by saturday. If
your final tax return results in a
higher tax liability then it is likely
that HMRC will assess interest on the
additional amount of tax due not paid
by the due date.
If there is one lesson to be learned
for next year it is to be more or-
ganised and submit your tax return
on time. After all the period being
assessed ends on 5 April 2015 or
before so you have nearly 10 months
to prepare and submit your tax return.
Preparing your tax return earlier in
the year rather than later also lets you
know what your tax liability will be
which you don’t need to pay until 31
January 2016 (subject to payments
on account). this gives you time to
make provision for any tax due.
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Welcome to our weekly
column for business owners, where
chartered accountant mark Stewart of Alloa-
based Stewart Accounting Services provides
invaluable advice and tips to make your
company’s money work harder
Got a business story
to tell? email us on
editorial@alloaadvertiser.co.uk
or phone on 01259 230631
Kevin’s climb to success
tIllICoultRY-based
Gecko Venture enjoyed a
capital Christmas after set-
ting up its impressive 24-foot
‘Ice Wall’ for rock climbers
at Edinburgh’s santa land.
owner Kevin Barnard was
delighted at the success of
the festive attraction, which
drew over 5000 climbers
to the wall over a six-week
period.
He said: “the team at
Gecko Venture were thrilled
to have such a good turnout,
and it’s great to introduce a
fun and exciting event that
will inspire young people”.
Gecko Venture not only
offers a mobile climbing
wall but the very best in
‘EventActivities’across cen-
tral scotland ranging from:
sAFE archery, an Assault
course, Bungee trampoline,
Inflatables, Spider Mountain
and a recent addition for
2015 a soft Play Arena.
Continuing to increase its
portfolio of equipment for
hire, perfect for a variety of
events, Kevin is more than
up for the challenge of pro-
viding fun yet safe activities
for all age groups.
originally from
Zimbabwe, Kevin moved
to scotland when he was 13
and studied at Heriot-Watt
university, achieving a BEd
Hons in Physical Education.
since 2001, Kevin has
been working in the outdoor
education sector and has 10
years’ experience teaching
rock climbing and abseiling
as well as a number of other
activities.
He added, “My previous
experience was fantastic
however the job often was
long hours with 300 kids to
keep entertained and I decid-
ed I wanted to do something
different.
“setting up Gecko Venture
three years ago was a huge
task but, I thoroughly en-
joy the variety of work it
provides me and I pride my-
self on health and safety and
quality of service.
“I’m pleased to say we
get a lot of repeat business
because we offer such a fan-
tastic service.
“I am extremely grate-
ful to all the support I have
had from my local Business
Gateway office, provid-
ing me with advice when
needed.”
After obtaining a con-
tract to provide activities
at Briarlands Farm during
Easter and throughout the
summer holidays Monday
to Friday, Kevin and his
team will be kept especially
busy.
they will also provide sev-
en weeks of weekend activi-
ties at sterling Mills outlet
Village in tillicoultry,
Kevin added: “this year is
already filling up fast and we
are delighted to work with
Briarlands Farm and return
to sterling Mills outlet.
We hope 2015 is a success
all round and look forward
to this year with much
anticipation”.
Kevin’s adviser at
Business Gateway, Alison
Davidson, said, “I met with
Kevin originally to discuss
our fully funded HR support
through our specialist Pam
Macleod.
“Due to Kevin taking on
staff this spring/summer for
a soft play area at the design-
er outlet in tillicoultry he
needed advice on what sort
of contracts and policies he
required to have in place.
“We will continue to sup-
port and advise Kevin on
various aspects of the busi-
ness to ensure its continued
growth especially as he di-
versifies into other target
markets such as corporate
team building.
“His increasing portfolio
offers a variety of equip-
ment and activities suitable
for a range of people and
abilities.”
Mobile event activities
from Gecko Venture are
available in and around
Clackmannanshire, stirling,
Falkirk,Glasgow,Edinburgh,
Perth, Dundee, the Borders
and further afield on request.
Call Kevin on 07875 501 840
or email kev@geckoventure.
co.uk for enquiries.
More information can
be found on their web-
site www.geckoventure.
co.uk and Facebook page:
https://www.facebook.
com/Geckoventure.
Ceteris deliver the
Business Gateway service in
Clackmannanshire and can
help you with starting up and
growing your business.
For business support
please contact the local of-
fice on 01259 726430 to ar-
range an appointment.
only a few days left to go...