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News - 25 January 2013

Tax return deadline just around the corner

If you still haven’t sent in your 2011-12 Self Assessment tax return, you’ve got just a few days left to do so and avoid a penalty.

Send your 2011-12 return to HM Revenue and Customs (HMRC) after 31 January and you’ll receive a £100 late-filing penalty – even if you don’t have any tax to pay, or you pay your tax on time.

The more you delay, the more you pay, as you’ll be hit with further late-filing penalties after three, six and 12 months.

And don’t forget, 31 January is also the deadline for paying what you owe for the 2011-12 tax year

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“The penalties for late Self Assessment 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 three months, additional daily penalties of £10 per day, up to a maximum of £900;
  • After six months, a further penalty of five per cent of the tax due or £300, whichever is greater; and
  • After 12 months, another five per cent or £300 charge, whichever is greater.
  • So if you are in any doubt, seek advice emmediatly.”

If you are unsure and need any help and advice on Self Assessment or want the burden taken off your hands, contact the ABDS Tax Department Now.


ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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