Beware of the self assessment deadline
30 Dec 2015
Taxpayers are being reminded that the deadline for filing the 2014/15 self assessment tax return online is 31 January 2016.
Any returns that are filed after this date, regardless of whether there is any tax to pay, will be subject to a £100 late return fine. Prolonged delays could result in further penalties.
Statistics show that over 85% of customers preferred to file their tax return online last year.
The paper return deadline for the 2014/15 tax year was 31 October 2015.
Some individuals may now use their Personal Tax Account (PTA) to submit their tax return. This new online service enables taxpayers to view their tax data and access their information at the same time, in a similar fashion to online banking services.
According to HMRC, a record number of tax returns were filed over the festive period in 2014, with a total of 24,228 returns completed between Christmas Eve and Boxing Day.
We can assist with a variety of planning issues, including dealing with your tax returns. Please contact us for further information.