Online tax return deadline approaches
22/11/2010
By Kristina Mathieson, Personal Tax Manager in Wills, Trusts & Tax Planning.
31 January 2001 is the deadline for online filing of self assessment tax returns for the year ended 5 April 2010 for:
- individuals (including deputies)
- trustees
- executors
- partnerships.
By the time this article goes to print, the 31 October 2010 deadline for filing a paper return will have passed.
Unless HM Revenue & Customs have issued you or your clients with a paper return after 31 July, in which case you have a three month window to complete and file, any returns filed on paper after 31 October will attract a £100 late filing penalty. In the case of a partnership a late filing penalty will be raised against each partner.
Tax returns filed online (via the internet) after 31 January 2011 will also attract a late filing penalty of £100, although in some cases this will be 'capped' to the amount of tax due on that date.
The Revenue are changing the way in which penalties are charged and these are expected to take effect from October 2011 and will apply to 2010-11 returns.
Please contact Kathy Larter or Kristina Mathieson if you or your clients require any further information or assistance.