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16/01/2007
Deadline for tax returns approaches
The government has issued a reminder that there are only two weeks left for people to file their self assessment tax return.
The tax returns have to be filled in before January 31 or a £100 penalty will be issued.
More than 9 million self assessment tax returns have been issued this year, but last year around a million taxpayers were late filing their return.
Self assessment applies to the self-employed, company directors, those with business partners, higher-rate taxpayers or people who otherwise have complicated tax affairs.
HM Revenue & Customs is encouraging people to file their self assessment tax returns and pay any money they owe before midnight on January 31 to avoid paying penalties and interest charges.
Those who miss the deadline will not only receive an automatic £100 penalty for late filing and you will be charged interest on any money paid late.
Late payers also face a surcharge of 5% on any amounts still outstanding after 28 days, with persistent non-filers facing daily penalties of up to £60 per day.
Mike Shipp, Director of PAYE SA & NIC at HM Revenue & Customs, said: "Don't a pay a penalty - get your return in now and beat the deadline. If you are registered for 'Self Assessment Online' you can file your return easily and securely up until midnight on January 31 www.hmrc.gov.uk. And if you're sending in a paper return, please allow plenty of time for it to reach us."
Anyone who needs help should visit www.hmrc.gov.uk/sa/index.htm or contact the helpline on: 0845 900 0444.
(KMcA)
The tax returns have to be filled in before January 31 or a £100 penalty will be issued.
More than 9 million self assessment tax returns have been issued this year, but last year around a million taxpayers were late filing their return.
Self assessment applies to the self-employed, company directors, those with business partners, higher-rate taxpayers or people who otherwise have complicated tax affairs.
HM Revenue & Customs is encouraging people to file their self assessment tax returns and pay any money they owe before midnight on January 31 to avoid paying penalties and interest charges.
Those who miss the deadline will not only receive an automatic £100 penalty for late filing and you will be charged interest on any money paid late.
Late payers also face a surcharge of 5% on any amounts still outstanding after 28 days, with persistent non-filers facing daily penalties of up to £60 per day.
Mike Shipp, Director of PAYE SA & NIC at HM Revenue & Customs, said: "Don't a pay a penalty - get your return in now and beat the deadline. If you are registered for 'Self Assessment Online' you can file your return easily and securely up until midnight on January 31 www.hmrc.gov.uk. And if you're sending in a paper return, please allow plenty of time for it to reach us."
Anyone who needs help should visit www.hmrc.gov.uk/sa/index.htm or contact the helpline on: 0845 900 0444.
(KMcA)
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