3 million still to complete self assessment a week before deadline
HMRC today announced that just over 3 million customers are yet to complete their 2016 to 2017 returns with only one week to go before the 31 January deadline.
Around 8 million people have already filed their self assessment return for 2016 to 2017. HMRC is reminding customers that if you send your tax return late, you will receive a £100 penalty – even if you do not owe any tax. The longer you delay, the more you will have to pay.
The deadline for sending 2016 to 2017 self assessment tax returns to HMRC, and paying any tax owed, is 31 January 2018.
Self assessment customers can now also submit their return through their personal tax account. It takes 5 minutes to sign up for a personal tax account.
If you are submitting your 2016 to 2017 self assessment return online for the first time, you will need to register for self assessment online. It can take a few days for the registration to arrive in the post, so it’s important that customers do it as soon as possible.
Help is available from the GOV.UK websiteor from the self assessment helpline on 0300 200 3310.
The penalties for late tax returns are:
An initial £100 fixed penalty, which applies even if there is no tax to pay or if the tax due is paid on time
After 3 months, additional daily penalties of £10 per day, up to a maximum of £900
After 6 months, a further penalty of 5% of the tax due, or £300, whichever is greater
After 12 months, another 5% or £300 charge, whichever is greater
There are additional penalties for paying late of 5% of the tax unpaid at 30 days, 6 months and 12 months.
If you think you won’t be able to submit your tax return by 31 January, ring HMRC on the self assessment helpline – 0300 200 3310 – they are there to help.
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