HMRC reminds self assessment taxpayers of January 31st deadline

Friday, 13 January 2012 11:41

HM Revenue & Customs (HMRC) has issued a reminder to people who need to pay self assessment tax in 2010/11 that the deadline for submitting the forms is fast approaching.

January 31st is the final date that tax returns can be sent to the organisation and they must be done online, as the deadline for paper returns has already passed.

Anyone who sends in their details after this date will receive an automatic £100 fine, even if they do not have any tax to pay.

Furthermore, the penalties will become more severe the longer the returns are left before being submitted, so lateness could cost people dearly.

HMRC states that it will be necessary to register first so that a user ID and an activation code can be sent out.

Since this can take up to seven days, it is a good idea to do it now while there is still time.

Similarly, replacement codes for those who have forgotten theirs will not be delivered immediately, so prompt action has been advised by HMRC.

The organisation's Stephen Banyard commented: "We want the tax returns, not the penalties. We want people to file online and on time and avoid facing a completely avoidable penalty."

KPMG reiterated the warning, although chair of private client advisory David Kilshaw said he expects the new system of fines to "catch a few people out".


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