HMRC have issued a reminder to everyone who is required to complete and submit a self assessment tax return for 2008-09 that the deadline for online submissions is the end of January. Anyone who fails to meet this deadline will be faced with a penalty.
The deadline for paper returns was 31st October so this has now long passed. This means that returns may now only be submitted online. The penalty for submitting a paper or online return late is £100.
If you are planning to submit your tax return online before the end of the month, you will need to register for the Self Assessment Online service on the HMRC website. It is worth noting that on registration you will be sent an activation code by post which can take up to seven days to arrive so you should register as soon as possible to ensure that you can proceed on time.
By filing online, you will have your tax will be calculated automatically. This means that your return is processed quicker. Of course, this means that if you are due money that it should also be paid back to you quicker. Please note that you will receive an online acknowledgement once you have submitted your return and you should keep this for your records.
Sarah Walker from HM Revenue and Customs commented: “If you haven’t sent in your 2008-09 tax return, you need to start thinking about it now. And if you haven’t filed online before, allow plenty of time to complete the registration process – that way, you’ll avoid a last-minute rush at the end of the month.”