Tax return deadline approaching

The filing deadline for paper copies of your Self Assessment tax return for 2012 was 31 October 2012. If you file a paper return after this date penalties will apply.

Would readers note that if we prepare your return it will be filed electronically, the deadline for electronic filing of 2012 Self Assessment returns is 31 January 2013.

If you have still not sent us the information we will need to complete your return, could you attend to this as soon as possible. The penalties for late filing are now rigorously enforced by HMRC. If the filing deadline is breached you will be facing the following charges:

• 1 day late – A penalty of £100. This applies even if you have no tax to pay or have paid the tax you owe.
• 3 months late – £10 for each following day – up to a 90 day maximum of £900. This is as well as the fixed penalty above.
• 6 months late – £300 or 5% of the tax due, whichever is the higher. This is as well as the penalties above.
• 12 months late – £300 or 5% of the tax due, whichever is the higher.
In serious cases you may be asked to pay up to 100% of the tax due instead.
These are as well as the penalties above.
These penalties will apply in addition to interest and surcharges for late payment of any tax outstanding.