Self Assessment Online Deadline
Don’t forget that the on-line self-assessment deadline for tax returns is 31st January! HMRC states that:
“You must send your tax return online by midnight on Tuesday 31st January 2012. The deadline is only later than this if you received your tax return, or the letter telling you to complete a tax return, after 31st October 2011. In this case you’ll have three months from the date you received that letter.
If you miss the 31st January deadline for online tax returns, you will have to pay a penalty of £100. You still have to pay this even if:-
- your return is just a day late
- you have no tax to pay
- you pay all the tax you owe on or before 31st January
The longer you delay, the more you’ll have to pay
If your tax return is three months late, you’ll have to pay a penalty for each additional day it is late. If it’s six months late, you’ll have to pay a further penalty and another final penalty if it’s 12 months late. Together these could add up to a penalty of £1,600 or more.
Don’t send a paper tax return now – the deadline for this was 31st October 2011. You’ll have to pay a £100 penalty straight away if you do and the daily penalties above will start even earlier. Send it online instead.”
The above information was sourced from http://customs.hmrc.gov.uk. To see the full information please click here
