Self assessment deadline
Everyone with an outstanding tax return needs to remember that the absolute deadline for submitting 2009/10 tax returns is 31 January 2011. Don’t leave it to the last minute!
You should also be aware that payment of any tax due should also be made by this date. That includes both the payment of any balance of self assessment tax for 2009/10, plus any payment on account due for the current 2010/11 tax year.
All filings must now be made online as the date for submitting paper returns has already passed. Any returns that are filed after the 31 January 2011 deadline will be subject to an automatic penalty of £100 with a further £100 penalty if a return is more than six months late. The penalty will be reduced to match the level of tax unpaid at 31 January – although in future years the £100 penalty will be payable if a return is late regardless of whether any tax remains outstanding.