Are you ready for the fast approaching self assessment deadline of 31 January 2016?
Any self assessment returns that are filed after 31 January – regardless of whether there is tax to pay – will be subject to a £100 late return fine. Longer delays will likely result in further and more severe penalties.
Despite this automatic penalty system, around 900,000 people failed to submit their tax return on time for the 2013/14 tax year.
So far this year, HMRC have reported that:
- A record-breaking 24,546 people submitted their tax return online on New Year’s Eve;
- More than 11,467 people sent off their self assessment tax return on New Year’s Day;
- And in excess of 2,000 taxpayers submitted their tax returns on Christmas Day.
Ruth Owen, Director General of Personal Tax, HMRC, said: “As we all enjoy the festive season it’s easy to see how completing your tax return can be forgotten, but the 31 January deadline will be here quicker than we think.”
The deadline for sending 2014/15 tax returns to HMRC (and paying any tax owed) is Sunday 31 January 2016.
Please contact us if you need help with your self assessment return – don’t leave it too late. Our experienced personal tax team can help you with your self assessment tax return preparation and submission to ensure that you do not run the risk of being filed late.
Please give me a call for more information.
More from our tax experts
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Jenny Brown is a personal tax manager at Hawsons, based in the Sheffield office, who manages the personal tax affairs of our clients. She started her career with HM Revenue and Customs, specialising in small business compliance. For more details and advice, please contact Jenny on jmb@hawsons.co.uk or 0114 266 7141 or your local tax specialist.[/author_info]