Late tax return - what now?

gt94sss2

soolin wrote: »

There are two different issues.

Firstly there is a £100 fine for tax returns that are not submitted by end of today, the deadline for submission on paper has already past.

Secondly there can be interest accruing on tax owing that is paid after midnight today.

So it is possible to avoid the second issue but more difficult to avoid the fine in the first issue.

As per the other posts, I understand that if you pay all the tax due today, the £100 penalty for late filing is squashed..

Regards
Sunil

Mikeyorks

gt94sss2 wrote: »

Thanks - in that case, I may as well just post the form my brother has already filled in. No need to wait for the PIn or drop it off to a local office..

Regards
Sunil

You would be better doing it online - using the paper as template? The paper return may take months to process ..... and you will be reminded for the £100 in the interim.

lr1277

larochelleuk wrote: »

Hi all,

So my tax return will be late. What's the best way to handle this with them? I've heard they can actually be quite reasonable if you keep them informed - any chance they'd waiver the fee?

I am sure you have got this in hand but thought I would mention this anyways, just in case.

Is this your first tax return?

If so, are you aware, you have to pay the tax for 09/10 plus half the tax on your estimated income for 10/11. The other half of the tax has to be paid by July 31st.

The reason I mention is that I got caught by this last year and got a request from inland revenue for an amount. Half to be paid immediately and the other half by the end of July.

I should have estimated my 09/10 tax bill myself (when I did my 08/09 tax return) as due to various expenses, I overpaid by about £1600.

This does mean a refund now that I have submitted my 09/10 tax return, but the money has been with the revenue and not in my pocket.

HTH.