Tax Return Deadline For The End of Year Tax Return
In the past a lot of people began to prepare for the 31 October tax return deadline for declaring their UK personal income tax return.
But you don’t have to worry. You are still able to file your tax return without worrying about late penalties for missing the deadline.
The tax return deadline is extended to 31 January the following year if you submit the tax return online, so there is absolutely nothing to fret about right now.
Deadlines for sending in your tax return
31 October: For all paper returns and posted documents
If you send out a paper income tax return, it must reach HMRC by midnight on 31 October.
You only have longer compared to this if you got the letter, informing you to send out a tax return, after 31 July. In this situation you’ll have 3 months from the date you got that letter.
31 January: For all online returns
Your on-line tax return should reach HMRC by midnight on 31 January.
You only have longer than this if you received the letter, informing you to send an income tax return, after 31 October. In this situation you’ll have three months from the date you obtained that letter.
There’s an earlier deadline of 30 December if you desire HMRC to accumulate any kind of tax you owe through your tax code.
You currently could request this if you owe less than £3,000 in tax. You will need to state this clearly on your tax return. HMRC will aim to gather the tax due with your code, yet they cannot always guarantee this.
Fines if you miss the income tax return deadline
If you miss out on the deadline for your self assessment, the longer you delay, then there will be a lot more you’ll need to pay.
So it is essential to send your tax return to HMRC as quickly as you can.
Penalties for missing the income tax return deadline is based on the length of the hold-up:
1 day late: A taken care of charge of £100. This uses even if you have no tax to pay or have paid the tax you owe.
3 months late: £10 for each and every adhering to day – as much as a 90 day maximum £900, this is along with the dealt with penalty over.
6 months late: £300 or 5% of the tax due, whichever is the greater, this is as well as the fines over.
1 year late: £300 or 5% of the tax due, whichever is the greater, in severe instances you might be asked to compensate up to 100% of the tax due instead.
Having a practical justification for missing the deadline
You will not need to pay a penalty if you have a practical excuse for missing the deadline. As an example, there might have been an extraordinary or unforeseen occasion, past your control, that implied you couldn’t send your return on time. In this instance, you must send your return ASAP once the issue finishes.
Our tax experts can also write a formal letter on your behalf to justify why you had difficulty in filing your tax return. The result of this is that in some cases the authorities will understand and clear your debt out of goodwill.
There are no set rules yet some examples of exactly what HMRC may take into consideration a reasonable reason are:
-documents gone through theft, fire or flooding that you can’t change in time
-dangerous disease, for example a heart attack that avoids you taking care of your tax events
-death of a companion before the deadline day
-industrial action by Royal Mail over a lengthy amount of time
-problems with the on the internet solution, without any work-round – you’ll should give the error message you obtained
If you believe you have a sensible justification, you can ask HMRC to re-evaluate a late charge. They will certainly look carefully at the details you gave and any other offered proof. You need to tell HMRC as soon as possible – do not wait until you receive the charge.
You ought to contact HMRC with:
-Yyour name and reference number – you’ll find this on your tax return or statement
-The date you sent your return
-The reason why it was late
Note: HMRC cannot approve these details over the telephone, you will need to send a formal letter.
If you would like to speak with us about our services for your tax return deadline, send a message on the Live Chat now and a member of our team will be happy to assist you. Or complete the form below for a free callback today.
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