ALTHOUGH we are still in October, be warned that the tax return deadline for submission of your tax return form is fast approaching. The deadline is January 31, 2005.

You may think there is plenty of time, but with the Christmas break the New Year will quickly come around. Many taxpayers who complete their own tax return leave it to the last minute and in most cases the completion is rushed. This can lead to errors or omissions, which in turn, could result in too much tax being paid.

Now is the time to start preparing for the completion of your tax return. If you have a tax advisor, I recommend that you start collating all relevant details, and forward this information to your agent as soon as possible. If you prepare your own return form, complete it now and enjoy Christmas safe in the knowledge that your tax affairs are up to date.

Back in April 2004 Paymaster General Dawn Primarolo announced that 952,766 taxpayers had been issued with a late filing penalty notice. The penalty is £100, which equates to over £95 million pounds in penalties alone. Do not become another government statistic.

In this month's business planning update, I am asking you to ensure responsibility is allocated. You have decided where you want to be and detailed the tactics that are going to help you get there. Now you need to decide who in the organisation is responsible for ensuring the task is performed.

This is not always the business owner. For example, the marketing manager will be responsible for reviewing and updating the marketing plan. The business leader will only be ensuring the marketing manager has the task in hand.

Being allocated responsibility will also motivate the team member. They will be in charge of that objective. They will have a new challenge. It may also be quite daunting to the team member. Remember though the business owner is still there to give support and guidance as and when needed.

MARK GREWER, of Hunter Gee Holroyd, Club Chambers, Museum Street, York, phone 01904 655202.

Updated: 11:09 Tuesday, October 26, 2004