The deadline has now passed for the submission of paper Self Assessment tax returns for the 2010/2011 tax year. If your tax return is still outstanding, you must now complete it online.
If you haven’t yet sent your 2010/2011 self assessment paperwork back to HMRC you must now complete the appropriate forms on HMRC’s website (www.hmrc.gov.uk) as the deadline for paper copies was 31st October 2011.
Although you can still send in paper returns after the deadline date, you will automatically incur a fine of £100 due to being late with your paperwork. HMRC’s penalty framework changed earlier this year and now the longer you delay sending in your documents the more penalty fines you will incur.
If you don’t want to incur the additional charges you can complete your tax return online. You have until the 31st January 2012 to do this. In order to complete your tax return online you will need to register with HMRC’s website (www.hmrc.gov.uk/online). To complete your 2010/2011 tax return online you need to register before the 21st January 2011.
Important dates to put in your diary:
- After the 31st October 2011 you can’t submit paper tax returns without incurring a penalty charge.
- Deadline for filing 2010/2011 online tax return, 31st January 2011.
Deadline penalties
With the date for paper returns now passed, if you complete a paper return you will automatically incur a penalty:
- Missing the 31st October 2011, automatically incur £100 penalty.
- 3 months after missing deadline, the penalty is an additional £10 per day (up to a maximum of £900)
- 6 months after missing deadline, a further 5% of the tax due or £300 (whichever the greater amount.)
- 12 months after missing deadline, a further 5% or £300 (on top of all the above amounts). In serious cases the penalty can be up to 100% of the tax due.
- On top of the above penalties there are additional charges for late payment of the penalties.
For more advice contact HMRC direct by www.hmrc.gov.uk or telephone 0845 9000 444 and speak to a HMRC advisor.
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