The deadline for online Self Assessment submissions was the 31st January, but what if you missed it? If you've missed the tax return deadline there is now an automatic fine, sometimes negotiable but only in certain circumstances.
Filing your tax return before the deadline on 31st January can be difficult, especially if you have a busy working life and you find it hard to find the time. Locating your payment records, receipts and any other documentation takes time, as does putting all of this information into the online form (the deadline for paper forms ended back in October). The automatic fine is £100 for filing late.
1.6 million failed to record in 2010, with a slightly lower number recorded last year. 210,000 more filed their returns on time than the previous year.
If you’ve been fined, then you can appeal against this. Unfortunately, the HMRC rules on what constitutes a good excuse are strict. If you found the online system too hard to use, if you’ve never done a self-assessment before or if you simply forgot to complete your form, then you won’t be excused. Many people have tried to get their late fine removed for varying reasons in the past – some of the more unique excuses have been interesting to say the least. ‘My dog was ill’ won’t get you out of the fine, neither will ‘I was up a mountain in Wales and couldn’t find a post box or get an internet signal’.
The only excuses that HMRC will accept (and which you may be asked to prove) are:
Unfortunately this automatic £100 fine still stands even if you don’t owe any tax. You’re given three months to get your tax return to HMRC before they add any further fines. At this point, a whopping £10 a day is added to your £100 fine until it reaches £900. You are then fined again at 6 months and 12 months after the tax return due date. The most you can be fined is £1,600, which is a huge amount of money – especially if you had little or no tax to pay in the first place!
If you’ve missed the deadline to file your tax return, then it’s likely you’ll need to pay the £100 fine. However, the sooner you can get it sorted the better, so try to make time to complete it within the 3 month window. If you’re struggling, there are plenty of resources to be found on the HMRC website.
© 2015 Match the Cash Ltd trading as
Guarantormyloan.co.uk. We are authorised and regulated by the Financial Conduct Authority. Interim Licence 661304
Registered in England as Match The Cash Ltd. Registration Number: ZA055459 (ICO)
Registered Office: MATCH THE CASH LIMITED ACRE HOUSE, 11/15 WILLIAM ROAD, LONDON, UNITED KINGDOM, NW1 3ER. Company No. 08667447