Tax return deadline just around the corner

If you still haven’t sent in your 2011-12 Self Assessment tax return, you’ve got just a few days left to do so and avoid a penalty.

Send your 2011-12 return to HM Revenue and Customs (HMRC) after 31 January and you’ll receive a £100 late-filing penalty – even if you don’t have any tax to pay, or you pay your tax on time.

The more you delay, the more you pay, as you’ll be hit with further late-filing penalties after three, six and 12 months.

HMRC found that people often felt a real sense of relief, or peace of mind, once they sent in their return – like a weight being lifted from their shoulders. A new ad campaign is encouraging people who still haven’t sent their return to “do it today, pay what you owe and take a load off your mind”, so they can experience “inner peace”.

And don’t forget, 31 January is also the deadline for paying what you owe for the 2011-12 tax year – visit www.hmrc.gov.uk/payinghmrc/selfassessment.htm for information on payment options.

Further information on completing your tax return is available by visiting HMRC’s website at www.hmrc.gov.uk/sa. If that doesn’t answer your question, call the Self Assessment helpline on 0845 9000 444 (open from 8.00am to 8.00pm, Monday to Friday, and 8.00am to 4.00pm on Saturday).

Notes for editors

1. Around 10.6 million Self Assessment returns / notices to complete a tax return have been sent out by HMRC for the 2011-12 tax year.

2. Follow HMRC on Twitter @HMRCgovuk for all the latest news on Self Assessment.

3. Images of HMRC’s new “inner peace” Self Assessment ads are available from HMRC’s Flickr channel at www.flickr.com/hmrcgovuk

4. The penalties for late Self Assessment returns are:

- an initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time;

- after three months, additional daily penalties of £10 per day, up to a maximum of £900;

- after six months, a further penalty of five per cent of the tax due or £300, whichever is greater; and

- after 12 months, another five per cent or £300 charge, whichever is greater.

There are also additional penalties for paying late of five per cent of the tax unpaid at: 30 days; six months; and 12 months.