Tax Return Deadline

[max99x]

shall be paying on monday, finalised everything with the accountant yesterday...always nice when your accountant has saved you thousands of pounds

[davedevelopment]

Filed mine over a week ago, but haven't paid yet as the online calculation was borked, so I was told to ask for an informal standover, while I gather evidence to support my claim.

[TinkyWinky]

They accept faster payments now as of December 2011: http://www.hmrc.gov.uk/news/hmrc-fps.htm

From memory or unless they have changed it - do you have to file AND pay to avoid the fine...

Is it not just that you have to file the figures with what you owe (or don't owe) - if you don't pay by deadline you simply get interest at bank rate each day on what you do owe - but no fine...

OR is that all for Corp Tax?

Sorry if misleading for anyone...

TW

[dbrooks19]

Originally Posted by TinkyWinky

From memory or unless they have changed it - do you have to file AND pay to avoid the fine...

Is it not just that you have to file the figures with what you owe (or don't owe) - if you don't pay by deadline you simply get interest at bank rate each day on what you do owe - but no fine...

OR is that all for Corp Tax?

Sorry if misleading for anyone...

TW

A return needs to be filed by the deadline to avoid a penalty of £100 (this increases the longer the return is outstanding). This does not include payment of tax.

If payment of tax is late then a separate penalty will become due after 30 days (plus interest due on outstanding amounts, again penalties increase the longer outstanding).

More information here: http://www.hmrc.gov.uk/sa/deadlines-penalties.htm

[MikeJDS]

*******

[Lovekraft]

Originally Posted by dbrooks19

A return needs to be filed by the deadline to avoid a penalty of £100 (this increases the longer the return is outstanding). This does not include payment of tax.

If payment of tax is late then a separate penalty will become due after 30 days (plus interest due on outstanding amounts, again penalties increase the longer outstanding).

More information here: http://www.hmrc.gov.uk/sa/deadlines-penalties.htm

My understanding is that payment must be made by the deadline but there has been an extension made for the return but only in special circumstances:

"Because a new activation pin has been requested after yesterday the 22nd of January , you have until 15th of Februrary to complete and get the on-line assessment to HMRC without any penalties ( £100 + 3% on the missing payments) .

The deadline has been extended only to people who request an activation code/get in contact with the HMRC.

Please note however that the payment deadline has not changed.

The filing deadline has changed for those requesting an activation pin, but any tax due is still due on or before 31/01/2012, and interest will be charged on outstanding balances after this date.
"

[redbird]

http://www.bbc.co.uk/news/business-16730443

Plenty of time

[Redemption]

My accountant has only just given me my figures. Not happy! I'll probably file 6 months late like I usually do. I enjoy reading the threats of debt collectors coming around to take my furniture.