Self Assessment reminder
HMRC have issued a timely press release to remind taxpayers that the deadline for submitting online Self Assessment tax returns for the 2007/08 tax year is 31 January 2009. Failure to submit the return on time could result in a £100 fine.
This is the first tax year where the deadline for submitting paper returns changed to 31 October 2008 so all outstanding returns should now be submitted online. Any taxpayer who is submitting an online return for the first time will need to register with HMRC by 21 January at the latest in order to allow enough time for the registration to be set up and the tax return filed.
HMRC also remind taxpayers that 31 January is the deadline to pay any remaining tax due for the 2007/8 tax year.
HMRC have issued a podcast which offers help and further advice on completing an online tax return. The podcast can be found at www.hmrc.gov.uk/podcasts