The deadline for paper tax returns for the last financial year is approaching.
The deadline for paper tax returns for the last financial year is less than four weeks away.
Paper returns submitted after 31 October 2009 will be subject to a late penalty of £100. Any paper returns submitted after this date will also miss the deadline for HMRC to calculate the amount of tax owed, meaning tax will have to be worked out by the taxpayer themselves. However, for online submissions the deadline is 31 January 2010.
Andrew Jupp, head of tax at accountancy firm Tenon Group, says: ‘The online service is pretty user-friendly now and it’s something I would encourage anyone to use. But if people want to register in this way they should do so quickly.
‘All applicants should ensure that they have received the correct information from their bank or building society, have provided all the necessary details and make sure that they give themselves enough time to work everything out.’
For more information on submitting tax returns visit the HMRC website.