26/10/2011

'Scary' Halloween Tax Deadline Looms

The traditional 'scary' Halloween celebrations next Monday, the 31 October is also the deadline for 'paper' tax return - but the filing date need not be so frightening.

HM Revenue & Customs (HMRC) is therefore urging anyone who hasn't yet filed their on-paper return to act now, to avoid a late-filing penalty.

A statement said that around 238,000 people are expected to file a Self Assessment return in Northern Ireland this year.

"If you send in a paper tax return on or after 1 November, you will now be hit with a £100 penalty - even if there is no tax to pay or the tax due is paid on time - following the introduction of a new penalty regime this year.

"The longer you delay, the more you'll have to pay, as there are further late-filing penalties after three, six and 12 months," said the statement.

"If you can't send your paper return by 31 October, you can still avoid a penalty by sending your tax return online instead. "However, if you do send a paper return after the 31 October deadline, you cannot avoid the initial £100 penalty by subsequently filing online," concluded the HMRC statement, but adding that by filing a tax return online, taxpayers get an extra three months to send it, as the deadline is 31 January.

There are lots of other advantages too, in that tax is calculated automatically; there's an immediate online acknowledgement and the tax return is processed faster, so any money owed is repaid more quickly.

Registering for HMRC Online Services is simple – just go to

www.hmrc.gov.uk/online

For help and advice on completing a return, visit www.hmrc.gov.uk/sa or call the Self Assessment helpline on 0845 9000 444.

(BMcC/GK)

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