Self Assessment deadline approaches
Taxpayers are reminded that the deadline for submitting 2013/14 Self Assessment tax returns online is31 January 2015. Taxpayers should also be aware that payment of any tax due should also be made by this date. This includes both the payment of any balance of Self Assessment liability for the 2013/14, plus any payment on account due for the current 2014/15 tax year.
A recent press release by HMRC revealed some of the oddest excuses for submitting a late return. The excuses included ‘I was up a mountain in Wales, and couldn’t find a postbox or get an internet signal’ and ‘I live in a camper van in a supermarket car park’.
HMRC’s Director General of Personal Tax, Ruth Owen, said:
People can have a genuine excuse for missing a tax deadline, but owning a pet with a taste for HMRC envelopes isn’t one of them.
There is an automatic £100 penalty for returns submitted late even if there was no tax to pay or if the tax due had been paid on time. There are further penalties for submissions that are over three, six or twelve months late. Last year almost 570,000 returns were filed on the 31 January. We would urge all taxpayers and agents to file returns as soon as possible to avoid the last minute rush.
Readers who are concerned that they cannot manage to meet this deadline should contact us as a matter of some urgency to see if we can help. Time is running out…