Penalty Regime Commences For Paper Tax Returns

4th November 2013

If you are due to complete a Self Assessment Tax Return for the year ended 5 April 2013 then you have until 31 January 2014 to do so.  However, you must ensure that you do so either using HMRC’s free online filing system or alternatively seek professional help to do so.   The paper filing deadline passed on 31 October and any paper Tax Returns received by HMRC after that date will be subject to an initial £100 late filing penalty.  This penalty will apply regardless of whether or not there is any tax liability arising for the 2012/13 tax year and regardless of when any liability is paid. Should your Tax Return not be filed until after 31 January 2014 then further penalties will be charged.

If you intend to file online using HMRC’s online filing process then you must register here and allow sufficient time for the activation code to be issued to you.  Even if you intend to file your Tax Return later we strongly advise that you start the process now by registering, without completing the registration and activation process prior to 31 January it will not be possible to file your Tax Return using HMRC software.

If you require assistance with the completion of your Tax Return or would like advice on your tax affairs then our tax team will be delighted to assist.  Please give us a call on 0141 848 7474 or email us at mail@johnmtaylor.co.uk .

Posted – 04/11/2013