The 31 January tax deadline for online self-assessment forms is only weeks away and, according to research by Unbiased.co.uk, taxpayers are set to be charged an unnecessary £503 million this year in fines generated by late returns, miscalculations and surcharges on unpaid tax. The research also reveals that this amount has increased by £24 million on estimations for last year.

Failure to get forms to Her Majesty’s Revenue & Customs (HMRC) by the fast-approaching deadline will incur an initial £100 late payment charge. If the form still hasn’t been returned by 31st July, there will be a further penalty of £100. … Continue Reading

HM Revenue & Customs (HMRC) has issued a reminder to anyone who hasn’t yet submitted their 2008-09 Self Assessment tax return.

The reminder stresses that the 31st October deadline for paper returns has now passed, which means anyone yet to file must do soonline by the 31st January deadline. HMRC warns that if you submit a paper return after 31st October, or you file online after 31st January, you could receive a £100 penalty.

HMRC are expecting more than 9.5m Self Assessment returns this year. Around 5.8m people filed online last year, up from 3.8m the previous year – an increase of over … Continue Reading