Paper Self Assessment return deadline
The 2015-16 tax return deadline for taxpayers who continue to submit paper Self Assessment returns is 31 October 2016. Late submission of a Self Assessment return will become liable to a £100 late filing penalty. The penalty will apply even if there is no liability or if any tax due is paid in full by 31 January 2017.
Daily penalties of £10 per day will also take effect if the tax return is still outstanding three months after the filing date up to a maximum of £900 i.e. for three months from 1 November 2016. If the return still remains outstanding further higher penalties will be charged from six months and twelve months late.
Further penalties then apply if the return is still outstanding for more than 6 months after the filing deadline when taxpayers will be charged the greater of £300 or 5% of the tax due. If the return is outstanding one year after the filing deadline, further penalties will be charged.
Taxpayers that received a letter informing them that they have to submit a paper return after 30 July 2016 have an extended deadline which runs for three months from the date they received a letter to submit the paper return.
We would recommend that anyone still submitting paper tax returns consider the benefits of submitting the returns electronically and benefit from an additional three months (until 31 January 2017) in which to submit a return.