May Day Tax Return Penalties

SELF ASSESSMENT TAX RETURN A GUIDE TO PENALTIES 12 1 11 16 6: Did you know? YOU CAN NOW BE FINED UP TO 9,610,000 £1,600 PEOPLE FILED THEIR SELF ASSESSMENT TAX RETURNS ON TIME THIS YEAR OR MORE FOR LATE FILING OF SELF ASSESSMENT TAX RETURNS MANY MISSED THE DEADLINE AND FACED PENALTIES New additional fines Avoid and you could buy a... 1 DAY LATE GOURMET DINNER FOR TWO £100 LATE-FILING FINE MONTHS 3LATE Avoid and you could buy a... NEW LAPTOP PENALTIES OF £10 PER DAY CAPPED AT £900 Avoid and you could go... MONTHS 6 LATE SKYDIVING PENALTY OF 5% OF TAX DUE OR £300, WHICHEVER IS GREATER Avoid and you could buy a... HOLIDAY ABROAD 1LATE YEAR PENALTY OF 5% OF TAX DUE OR £300, WHICHEVER IS GREATER Reasonable excuses for appealing late-filing penalties RIP Death of partner or family member near deadline Loss of vital documents due to natural disaster Late receipt of HMRC online activation code Unforeseen Life-threatening illnesses postal delays How to appeal a penalty If you have a valid excuse for missing the self assessment tax return deadline it is important to speak with your accountant or contact HMRC at: Visit HMRC (www.hmrc.gov.uk/sa) or call the Self Assessment helpline on 0845 9000 444. Do you need to complete a Tax Return? 300,000 INDIVIDUALS CONTACTED HMRC AFTER THE DEADLINE AVOID THE PENALTY TO TAKE THEMSELVES OUT OF THE SELF ASSESSMENT PROCESS AND If you have been issued with a tax return but you believe it isn't required, it is important to contact the self assessment helpline immediately. BROUGHT TO YOU BY TaxAssist Accountants The Accountancy and Tax Service for Small Business Iconography from The Noun Project © 2013 TaxAsist Accountants Time (Richard de Vos), Files (Pieter J. Smits), Palm Tree (YouGou), Skull & Crossbones (Jens Tärning). Silverware (Anthony Lui), Skydiving (Rohan Gupta), Laptop eX LAST YEAR