31st January Deadline
If you have not submitted your tax return to HM Revenue and Customs already, you must do it online by the end of this month.
If HMRC receive your tax return after 31 January you will be liable for a late filing penalty of £100.
But even if if you miss the deadline for your tax return, you will not have to pay the penalty if you pay all of the tax you owe by 31 January.
In some rare cases, you might still be allowed to send your return on paper after the October deadline when no software is available. This is the case for the following types of returns:
• SA700 – Non-resident Company Tax Return
• SA970 – Trustees of Registered Pension Schemes
According to HMRC, “Tax returns that are in an HMRC office letter box when it’s first opened on Tuesday 2 February or delivered to an HMRC office by hand on Monday 1 February will be treated as being received on the 1 February. You won’t have to pay a late filing penalty, but HMRC will have longer to start a check into the tax return – until 30 April 2011 rather than 31 January 2011”.
So if you have not managed to deal with your tax affairs so far, Taxfile’s tax accountants can still submit your tax return on your behalf at reasonable rates.
Hurry up and beat the deadline!