Self assessment deadlines
As is well known, the deadline for submitting 2008/9 tax returns online is 31 January 2010. You should also be aware that outstanding income tax, NICs and capital gains tax needs to be paid to HMRC by the last working day of the month, Friday 29 January.
Any returns that are filed after the 31 January 2010 deadline will result in an automatic penalty charge of £100. Paper returns are subject to the £100 penalty even if submitted before 31 January as the deadline for filing paper based tax returns was 31 October 2009. These automated penalties will not be payable if all the tax due is paid by 29 January.
Anyone who is filing online for the first time should ensure that they register to use HMRC’s Self Assessment Online service before 21 January. Once registered it can take up to seven days for an activation code to be sent by mail.