Final reminder: self-assessment tax deadline today
If you haven't filed your tax return, you have a matter of hours left or face £100 fine tomorrow
More than a million freelancers and self-employed people are still to file tax returns with the window for doing so due to slam shut at midnight tonight, according to figures released by HMRC.
HMRC says around 1.5 million people are yet to submit their online returns for the tax year 2011-12. Those who submit on or after February 1 face fines of £100 or more, with the penalty rising £10 each day up to a 90-day maximum of £900 (in addition to the £100 fixed charge).
For returns filed six months late a penalty of £300 or 5% of the tax owed – whichever is higher – will be applied in addition to the above fines. And those who file up to a year late will be charged an additional £300 or 5% of tax owed or will be asked to pay 100% of the tax owed. This is in addition to the other fines.
To submit your self-assessment tax return online, for which you will need your unique user ID and password, click on this HMRC link: http://www.hmrc.gov.uk/sa/file-online.htm