Only six days left to avoid paying fines for filing tax returns
Taxpayers have just six days left to file their tax return or face being fined 100 — even if they owe nothing.
Seven million people are preparing to meet the January 31 deadline for filing self-assessment tax returns online.
But anyone who misses the deadline by just a few hours faces new steep penalties from HM Revenue & Customs (HMRC).
Paying the penalty: Taxpayers will be charged 100 if they file just a day late
For the first time for online returns, even those who do not owe any money will be forced to pay a fine for filing late.
Taxpayers will immediately be charged a penalty of 100 if they file just a day late.
If the return is more than three months late, there is a 10 daily charge for up to 90 days. This means someone who files six months late could be charged 1,000.
There are also steep charges for
people who fail to pay their tax on time. Someone whose payment is 30
days late will be charged 5 per cent of the tax owed, and another 5 per
cent if the payment is six months late. You will also be charged
interest at 3 per cent.
A spokesman for HMRC says: ‘Don’t put off doing your tax return online this year.
To avoid an unwanted penalty, simply file your tax return online by 31 January’.
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