What happens if you don’t get your tax information to us on time? 

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This is the pointy end of the year for our accounting team as we work to lodge client tax returns by the due date. What you may not realise is how big a role you play in achieving that each year. 

Our team needs important information from you to be able to complete your tax return. The quicker you send us your information, the quicker we can process your work. Waiting to send us information until the last minute causes a backlog of work and puts pressure on our team to rush to the finish line – especially when you consider the volume of client work we need to complete. While your tax return on its own could technically be completed in a week, 1,000 of them cannot. 

Not only that, penalties and interest for late lodgements can be significant. Depending on the size of your business and how late the lodgement ends up being, you could easily incur thousands of dollars worth of penalties in just a few weeks. For more information on late lodgement penalties, click here.

The working relationship between our team and our clients is a partnership. A successful partnership involves collaboration and cooperation, and a mutual respect for each other’s expertise, time and processes. You can read more about this here: Our Expectations – Aintree Group.

So, please act and respond promptly to our team when they request information for your return, or send out your tax return for review and signing. If you’ve got an email from Aintree Group sitting in your inbox at the moment that you’ve been putting off looking at, please make it a priority to attend to so we have enough time to complete your work. If you aren’t able to prioritise actioning our team’s requests, then we will need to prioritise completing other clients’ returns over waiting on information to complete yours. 

If you have any questions, please get in touch with your Aintree Group Advisor.