Tax return deadline approaching for employers and contractors

The deadline for submitting employer’s and contractor’s tax returns is now just a week away.

If the Income Tax Division hasn't received the tax returns for the year by May 5, people could face a £250 penalty.

Further, employers and contractors could face a charge of £50 per day for each day  the return continues to remain outstanding. 

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

Anyone interested in doing so can register through www.gov.im/onlineservices.