Huddersfield bank manager issues tax warning

A bank manager in Huddersfield has issued a warning to business start-ups on the need to act in time for a looming tax deadline.

Local business manager for Barclays Mike Hartley, has warned that close to 50 per cent of start-ups could face a fine, should they fail to observe the January 31st deadline for income tax-related submissions, reports the Huddersfield Daily Examiner.

"There are any number of reasons why start up businesses may not be able pay their tax on time, but most usually revolve around a lack of understanding of tax, or just a general fear of tackling the issue," said Mr Hartley.

The January 31st deadline covers the period between 2006 and 2007 and relates to income tax for businesses which are not incorporated.

Any businesses not meeting the deadline qualifies for a fine of £100, which is levied automatically.

The new tax year begins on April 6th.