Warning - fines for late tax returns

[Osem]

Just been sorting out my tax return for 2010/11 and spotted that the £100 fine for submitting your tax return late (ie after Oct 31st for paper returns and Jan 31st for online returns) will be applied even if you don't owe any tax.

http://www.accountingweb.co.uk/topic...returns/483492

Anyone who's been sitting on their paper return since April needs to get moving ASAP unless they want to make another donation to UK PLC.

Originally Posted by Osem

Just been sorting out my tax return for 2010/11 and spotted that the £100 fine for submitting your tax return late (ie after Oct 31st for paper returns and Jan 31st for online returns) will be applied even if you don't owe any tax.

http://www.accountingweb.co.uk/topic...returns/483492

Anyone who's been sitting on their paper return since April needs to get moving ASAP unless they want to make another donation to UK PLC.

yep ,i posted about this earlier in the year and if you think that's bad you'd better look at the new improved charges

Length of delay
Penalty you will have to pay

1 day late
A fixed penalty of £100. This applies even if you have no tax to pay or have paid the tax you owe.

3 months late
£10 for each following day - up to a 90 day maximum of £900. This is as well as the fixed penalty above.

6 months late
£300 or 5% of the tax due, whichever is the higher. This is as well as the penalties above.

12 months late£300 or 5% of the tax due, whichever is the higher.
In serious cases you may be asked to pay up to 100% of the tax due instead.

These are as well as the penalties above.

I did mine back in april

Who needs to fill in tax return forms? I thought it was only people who had income from which tax was not deducted, i.e self-employed people.

Originally Posted by Damien

Who needs to fill in tax return forms? I thought it was only people who had income from which tax was not deducted, i.e self-employed people.

even some p.a.y.e people need to fill in a return ,those with a second income .Also selfemployed people like me who's tax is stopped at source (cis)