• John Massey

Don't miss the 31 January Tax Return deadline

Be sure to have submitted your Tax Return and paid by your tax by the 31 January deadline.


Here's some of HMRC's best excuses and questionable expenses


What happens if you are late?


The penalties for late submission and late payment are treated separately as follows:


Penalties for late submission

  • You will be charged a penalty of £100, even if you do not owe any tax.

  • If you are three months late, you will be charged a daily penalty of £10 per day, up to a maximum of £900

  • If you are six months late there will be a penalty of £300 (or 5% of the tax owing if this is greater)

  • If you are 12 months late, you will be charged another £300 (or 5% of the tax owing if this is greater). In exceptional circumstances a higher penalty of up to 100% of the tax due is possible

  • If you are in a business partnership the penalties apply both to the late submission of the partnership return and to the individual partner’s returns


Penalties for late payment

  • 5% of tax unpaid after 30 days

  • Another 5% of tax unpaid after 6 months

  • Another 5% of tax unpaid after 12 months

Appealing against a penalty


If you have a reasonable excuse why you missed the tax return filing deadline you have 30 days to appeal against the penalty using form SA370


Already submitted your SA Tax Return?

Then be sure to pay your tax bill before 31 January / 31 July: https://www.gov.uk/pay-self-assessment-tax-bill


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