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Deadline day for firms' tax returns

Contractors and employers' forms due

Today is the deadline for Island contractors and employers to submit their tax returns.

A £250 fine will be imposed on those who fail to had in their forms,  with an additional £50 charge per day for each day it remains outstanding.

The Income Tax Division has warned that even if penalties are paid, the contractor or employer may also be prosecuted for failing to do so.

Employers are reminded they can submit their tax return online and need to register first at gov.im/onlineservices

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