Omega 2 Accounting

UK Tax Returns - New Returns, New Deadlines

The end of the tax year sees many tax payers receive a tax return reminder or self assessment form from HM Revenue & Customs (HMRC).  However, this year there is a change both to the return itself and dates by which returns have to filed.

The deadline for submitting a UK tax return by post, 31st October, has now passed.  For online tax filing the deadline is still 31st January 2009.  In either case, filing late tax returns will incur a £100 penalty.  As in previous years, there may be penalties for late tax returns beyond a simple fine. Where a return is expected by HMRC and not received at all an assessment may be made as to the tax payable and steps taken to recover the estimated liability.

As well as changing the deadline dates, HMRC have also made changes to the actual return which is now considerably shorter for the vast majority than it has been in previous years.  However some individuals, those with more complex tax affairs, will be required to complete for detailed forms.

With less than two months until the first deadline, if you are at all uncertain contact Omega 2 accounting for a free assessment of your obligations.