Tuesday 16:25
Avoid a Penalty and File By 31 January
There are just two weeks left for those people who haven't filed their self assessment tax return to do so, and avoid a £100 penalty for missing the 31 January deadline.
More than 9m self assessment tax returns have been issued this year, including around 107,000 to people in Cornwall and the Isles of Scilly. However, last year around a million taxpayers were late filing their returns.
HM Revenue & Customs is encouraging people to file their self assessment Tax Returns and pay any money they owe before midnight on 31 January to avoid paying penalties and interest charges.
"Don't pay a penalty - get your return in now and beat the deadline," said Mike Shipp, Director of Self Assessment at HM Revenue & Customs.
"If you are registered for 'Self Assessment Online' you can file your return easily and securely up until midnight on 31 January at http://www.hmrc.gov.uk. And if you're sending in a paper return, please allow plenty of time for it to reach us."
If you need help with your return, you should visit HMRC's website - in particular the self assessment web pages at http://www.hmrc.gov.uk/sa. If that doesn't answer your questions, call the self assessment helpline on 0845 900 0444. It's available seven days a week between 8.00am and 8.00pm.
Remember, the final deadline for completing and filing your self assessment Tax Return and paying any money owed is 31 January. If you miss this deadline you will 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.
Notes for Editors
1. Around 9.3m self assessment tax returns have been issued for the 2005/06 tax year.
2. Introduced in 1997, self assessment applies to the self-employed, company directors, those with business partners, higher-rate taxpayers, or people who otherwise have complicated tax affairs.
3. The vast majority of self assessment tax returns (8.3m) are submitted by individuals. The remainder comprise 600,000 business partnerships, plus around a quarter of a million trusts and estates.
Issued by HM Revenue & Customs Press Office
Website http://www.hmrc.gov.uk
Client ref Ref:SW 02/07
