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Tax Tip

Don't forget next month's new Tax Return deadline

If you fill in a Self Assessment tax return,and wish to file a paper Return then don't forget next month's new 31 October deadline.

In previous years, both paper and online Self Assessment returns had to be filed by 31 January. But from this year, paper returns must be with HMRC by 31 October. The deadline for filing online returns remains 31 January.

If you file a paper tax return, you therefore need to get organised now. For example, start thinking about what information you need to complete your return, such as your P60, records of your savings and investments and details of any untaxed income.

Alternatively, you could switch to online filing, in which case you'll have until 31 January to file your return. It's easy to register on the HMRC website.

Filing online has several advantages -

1. Your tax is calculated automatically,
2. You get an immediate online acknowledgement once you've filed,
3. It is processed faster, so any money you're owed by HMRC is repaid more quickly.

Once you've filed your return, any tax due has to be paid by 31 January, whether you file on paper or online.
 

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