07 Feb What happens if you missed the Self Assessment Tax Return Deadline?
Written by Director, Huw Moseley:
The deadline for filing your Self Assessment Tax Return was midnight on 31st January – and almost 750, 000 people missed it!
Were you one of them?
Even if you have no tax to pay, or you always pay your tax on time – the penalty for filing a late return is £100.
If you fail to file within three months, a daily £10 penalty kicks in, and a further 5% of the tax due or £300 (whichever is greater) is charged at six months and then again at 12 months.
So if you missed the deadline, it’s really important that you submit your return as soon as possible so that you avoid any further penalties – and minimise your risk of a tax investigation.
If you’d like some help with this – simply get in touch and we’ll get everything filed for you. We can also discuss how our Personal Tax services will help you make sure that you don’t end up in this situation next year…