With the 31 October deadline for paper tax returns just weeks away, HM Revenue and Customs is urging people to get their paper tax return in on time, or face a penalty.
If you send in a paper tax return on or after 1 November, you will now be hit with a £100 penalty – even if there is no tax to pay or the tax due is paid on time – following the introduction of a new penalty regime this year. The longer you delay, the more you’ll have to pay, as there are further late-filing penalties after three, six and twelve months.
A spokesman for HM Revenue and Customs said: “So, you’ll need to act now if you want to send in a paper return and avoid a late-filing penalty. If you can’t send your paper return by 31 October, you can still avoid a penalty by sending your tax return online instead.
“However, if you do send a paper return after the 31 October deadline, you cannot avoid the initial £100 penalty by subsequently filing online. To find out more about the October deadline and sending a paper tax return, go to www.hmrc.gov.uk/sa/deadline-news.htm.
“If you send your tax return online, you get an extra three months to send it, as the deadline is 31 January.”