SJB & Co - Chartered Accountants

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9/11/2009

Tax return filing dates - deadline for filing paper returns now passed, may still be possible to avoid penalty.

The filing dates for filing tax returns this year remain:

31 October: for paper returns by post.

31 January: for returns submitted on line

Paper returns submitted after 31 October as late and potentially subject to £100 penalty, however thisa is limited to the tax underpaid at 31 January, therefore to avoid a penalty all tax should be paid on time.

Reasons for preparing and filing returns early:

•Obtain a tax refund: individuals changing employment or made redundant during the last tax year may have overpaid tax which can be reclaimed on submission of a return, if trading losses have been incurred a return will be required to offset losses against other income;
•Avoid late filing penalties!
•Easier to prepare while information readily available. Peace of mind of meeting deadlines rather than last minute rush!

Those wishing to make a paper return should start compiling the information needed now. This may include forms P60 and P11D, self employed accounts, details of savings and investment income, details of any untaxed income and capital disposals.

Link -

For more information contact Simon Bell FCA, CTA
Tel: 01376 571358 | Email: simon.bell@sjbtax.co.uk