Tax Deadline Looming

The deadline for online filing of 2010/11 self assessment tax returns is 31 January 2012. For anyone wishing to file their return on paper, the deadline was 31 October so online is now the way to go in order to avoid a penalty. Remember that payment of any outstanding tax is also due by 31 January.

As mentioned previously on this blog, penalties for late filing and payment of tax have become stricter from this year. A £100 late filing penalty will become due automatically, even if you have no tax to pay, and further daily penalties are added if the return is late by more than three months.

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