31st October – Be Afraid! It’s only HMRC Tax deadline day!
Last year I wrote about this most auspicious of occasions, HMRC tax deadline day for paper tax returns.
As always, if you choose to file a paper tax return, you must make sure it is on HMRC’s desk by midnight 31st October, any year. It doesn’t get scarier than that as a time and date!
More worrying still is the penalties now in force for late returns.
This extract from HMRC’s website:
What happens if you miss the tax return deadline
“If you miss the deadline for sending in your paper tax return, you should send it online instead. If you don’t, you will have to pay a penalty. You must send your return online by midnight on 31 January 2013.
If you do still send a paper tax return and it reaches HMRC after the 31 October deadline, you’ll have to pay a penalty. The penalty is £100. You’ll still have to pay this even if:
- your return is just a day late
- you have no tax to pay
- you pay all the tax you owe before 31 January 2013
The longer you delay, the more you’ll have to pay. There are additional penalties when your tax return is three, six and twelve months late. Together these could add up to a penalty of £1,600 or more so make sure you get your tax return in on time.
Remember, if you’ve missed the paper tax return deadline, don’t send a paper tax return, send it online. If you don’t, you will have to pay a penalty.”
Bettertax are registered HMRC tax agents and file our clients’ tax returns online, and on time! Many of our clients had been too worried or not aware that tax returns should have been completed and had therefore not been claiming the tax refunds due to them.
It’s a daunting prospect dealing with HMRC when you are in a tax mess but we can look at past years tax claims for you and liaise with HMRC on your behalf to get you up to date.
If you are at all worried about your tax situation, whether you’re a CIS tradesman or PAYE construction industry worker, if you know you are behind with your tax returns or you just need some advice, we’re happy to help.