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UK tax payer? Reminder > 31 January deadlines / new big fines!



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hroch's Avatar
hroch
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Deadline for sending in your tax return:

Your online tax return must reach HMRC by midnight on 31 January

Deadline for paying your tax: You must pay any tax you owe by 31 January following the end of the tax year.


NEW Penalties if you miss the tax return deadline If you miss the deadline, the longer you delay, the more you'll have to pay. So it's important to send your tax return to HMRC as soon as you can. The table below shows the penalties you'll have to pay if your tax return is late. If a Partnership tax return is late, each partner will have to pay the penalties shown below.

Length of delay

Penalty you will have to pay

1 day late

A penalty of 100. This applies even if you have no tax to pay or have paid the tax you owe.

3 months late

10 for each following day - up to a 90 day maximum of 900. This is as well as the fixed penalty above.

6 months late

300 or 5% of the tax due, whichever is the higher. This is as well as the penalties above.

12 months late 300 or 5% of the tax due, whichever is the higher.
In serious cases you may be asked to pay up to 100% of the tax due instead.
These are as well as the penalties above.


Example


Mrs A's tax return is due on 31 January 2012 but HMRC don't receive it until 5 August 2012.

It is over six months late so she will have to pay all of the following:




  • 100 fixed penalty
  • 900 penalty - this is 10 each day from 1 May to 29 July, when the maximum 90 day penalty is reached.
  • 300 or 5 per cent of the tax due - whichever is the higher
http://www.hmrc.gov.uk/sa/deadlines-penalties.htm

Last edited by hroch : 18-01-12 at 12:26 AM. Reason: added link
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18-01-12, 12:22 AM

AndyZizkov's Avatar
AndyZizkov
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Shame the UK are getting their ideas Klaus
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18-01-12, 04:11 AM

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jezovec
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Quote:
Originally Posted by AndyZizkov
Shame the UK are getting their ideas Klaus


He proundly carries the Torch of Liberty ignited by Magnificents Thatcher and Ronnie, May Got Bless Them!
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18-01-12, 08:49 AM

Rob_Prague_2004's Avatar
Rob_Prague_2004
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Am I right in thinking you don't have to file in the UK if you live abroad if all your income is from abroad (i.e. I am only filing in the Czech Republic)?
If not, I'll have to stay abroad for the rest of my life, as returning to the UK will mean instant bankruptcy
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18-01-12, 01:36 PM

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JIZEK
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Have you informed them?
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18-01-12, 04:43 PM

Rob_Prague_2004's Avatar
Rob_Prague_2004
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I haven't earned anything in the UK since 2008. I came and left several times, and I can't even remember whether I filled in the leaving the country form last time. Will give them a call to be on the safe side.
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18-01-12, 05:58 PM

hroch's Avatar
hroch
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Due to strike action on 31 January HMRC has extended the deadline to 2 February and people filing on this date will not receive a 100 late filing penalty. More than 2 million people have yet to file their tax returns online

http://citywire.co.uk/money/tax-ret...-strike/a561456
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30-01-12, 02:11 PM

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