The 5 May 2013 deadline for submitting contractor’s and employer’s tax returns is now only a few weeks away.

If the Income Tax Division has not received the tax returns for the year ended 5 April 2013 by 5 May 2013, a ?250 penalty will be charged. Contractors and employers may also be liable to a penalty charge of ?50 per day for each day that the return continues to remain outstanding: commencing from the day after that on which 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 that they can submit their tax return online. Anyone who is interested in doing so should register for Government Online Services and then follow the link to enrol for Income Tax Services. To register they should go to www.gov.im/onlineservices and select ‘Income Tax’ where a video guide to assist in completion of the registration and enrolment process can also be viewed.

Using Online Employer Tax Services enables people to deal with their tax affairs from the comfort of their own home and avoid the potentially large queues at the Income Tax Division office, particularly in the final weeks before the deadline.

Alternatively returns can be put through the letterboxes at the front entrance to, or on the 2nd floor inside Government Office.

If anyone requires a duplicate tax return, then they should contact the Division as soon as possible in order that a return can be issued and returned before the deadline.