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2014 Tax return deadline just weeks away PDF Print E-mail
Tuesday, 11 November 2014 21:46

If you are one of the 11 million people who are required to file a tax return, the deadline for filing your 2014 on paper has now passed. If you do it paper, you will be charged a £100 penalty even if there is no tax to pay. The only way to avoid a penalty is to submit it online by 31 January 2015.

To submit your tax return online, you must be registered for HMRC online services. This involves completing an online registration form and sending it to HMRC. HMRC will in turn send you an activation code in the post. This may take up to two weeks to arrive. If you have still not received your activation code by the last third week of January, please contact us and we will submit it for you using our own user ID.

The penalties for filing your tax return are as follows:

  • an initial penalty of £100. This is imposed even if there is no tax due;
  • after three months, additional daily penalties of £10 per day, up to a maximum of £900;
  • after six months, a further penalty of 5% of the tax due or £300, whichever is greater;
  • after twelve months, another penalty of 5% of the tax due or £300, whichever is greater.

In addition to the to above flat rate penalties, late payment interest will be charged.

How we can help
If you foresee problems submitting your 2014 tax return on time, please contact us.


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