MSE News: Tax deadline looms: how to avoid a £100 fine

Former_MSE_Guy · 17 January 2011 at 5:38PM

This is the discussion thread for the following MSE News Story:

"Over three million taxpayers yet to file their return have just days to avoid a penalty for late submission ..."

Read the full story:
Tax deadline looms: how to avoid a £100 fine

Mikeyorks · 17 January 2011 at 6:43PM

A good and comprehensive article.

But a couple of points :

While it takes up to seven working days to register, if you think you'll miss the cut-off you won't get a fine if you pay the correct amount of tax on time. So you could always make a payment for what you think you'll owe but if you're under you'll get a penalty of the amount owed or £100, whichever is less.
If you overpay, contact your tax office to get a rebate.

No - if you overpay ..... get the Return in and any refund should be d/w automatically. Not a chance of a refund without the Return. And - similar vein :

After filing, it may be you're due cash back. This may happen if you've only worked part of the year or owe less than the total payments on account you've made for 2009/10. See the Revenue's refund forms for help claiming back.

No - complete the SA Return correctly (ask for any refund due + complete your Bank details) and any refund computed will be d/w automatically. No need for two bites at the cherry when you're filing a Return.

Paulgonnabedebtfree · 17 January 2011 at 7:49PM

As always I have procrastinated. I've done the income bit and printed that off but I am currently taking a break from entering the receipts into my software. Not seeing the accountant until Wednesday evening though so will have it all done by then. He tells me that a lot more people than usual have left it until the last minute this year. I will totally shock him later in the year. I will supply him with everything for 2010-11 by August. Once again a gripe about Santander. Abbey used to always send the tax deduction certificates without prompting. However, since Santander took over, they only send the certificates relating to the business accounts. The only way I can get them to send the one for the personal account is by phoning them. It's only pennies this year as I leave little money with them but it's still paperwork that must be supplied and I understand that it's a legal requirement for them to supply it (without prompting, surely?).

gt94sss2 · 17 January 2011 at 8:15PM

The article states:

You can no longer send your form by post as the paper deadline passed on 31 October.

Actually, anyone can still send a paper return to HMRC and avoid the £100 penalty, as long as you submit the form and pay the tax due by 31 January.

However, the online system is the recommended route and will calculate the tax due for you.

Regards
Sunil

jennifernil · 17 January 2011 at 8:27PM

I have not found that refunds are automatic. OH was overpaid by almost £150 after paying the 2 POAs they demanded, there was never any mention of a refund, even though he had submitted his return in early May and requested any refund be paid out. It took them till August just to send his Tax Calculation.

(There is some problem, STILL unresolved, that prevents him from submitting on-line)

Only when he rang them to reduce his POAs upcoming did they say he was overpaid, and said to deduct it from his first POA. They said they would send a letter confirming the POAs, and they have, but for the full amount.

Is it still OK to subtract the overpayment from last year? They certainly have not paid it out to date.

Mikeyorks · 17 January 2011 at 8:49PM

jennifernil wrote: »

(There is some problem, STILL unresolved, that prevents him from submitting on-line).

Therein is the major difference. The article I was commenting on is exclusively 'online'.

Is it still OK to subtract the overpayment from last year? They certainly have not paid it out to date

Yes .... if it remains overpaid. As it will still be lying on his record on the SA 'accounting' (as opposed to the 'online') system.

jase_31 · 17 January 2011 at 10:26PM

But if you started in the 2009/10 tax year and have not told HMRC you may get two £100 fines: one for telling it too late and the other for filing your return late as you are still a step away from being able to register online, so it's likely you'll miss the deadline.

This is not quite correct. With regards to late filing, it is unlikely (in reality impossible) that the HMRC will issue the UTR number in time (and then you have to register online). However if HMRC have not issued a return then the 31 Jan deadline for filing does not apply (instead 3 months from receiving the return).

You would be fined for failure to notify chargeability. However this can be avoided if you pay any outstanding tax PRIOR to 31 January. i.e you need to ensure that you do not have any tax liability on 31 Jan.

http://www.hmrc.gov.uk/MANUALS/salfmanual/salf210.htm
http://www.ion.icaew.com/TaxFaculty/19196

mipiacci · 26 January 2011 at 12:29PM

I've submitted my return online and now wish to pay but the system will NOT accept the only tax reference number I have......I've sent an email BUT no reply. Anyone know where to find one?? Thanks.

Mikeyorks · 26 January 2011 at 12:32PM

mipiacci wrote: »

Anyone know where to find one?? Thanks.

It's the UTR (10 x numerics followed by a 'K') that's on your Return / Notice to file etc?

You also used it to register for the online service?

BoGoF · 26 January 2011 at 5:47PM

Bear in mind that this is likely to be the last year where penalties are 'capped' to the amount of liability outstanding at 31 January so in future you will not be able to avoid the penalty by paying the tax on time.

I understand legislation is currently going through that means a £100 late filing penalty will be exactly that.

MSE News: Tax deadline looms: how to avoid a £100 fine

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