Tax self-assessment deadline looming
THE deadline for those Halton residents who complete their self-assessment tax return on paper is approaching fast, the Association of Chartered Certified Accountants (ACCA) has warned.
Those who return their forms to HMRC on paper must do so by Monday, October 31.
The deadline for returning a self-assessment tax return online is at the end of January.
An ACCA spokesman said that self-employed people now account for one in seven of the UK workforce.
ACCA’s head of taxation, Chas Roy-Chowdhury, said: “While the majority of people now complete their return online there is still a sizeable number who choose the paper method.
“It’s important you get your return in on time, even if you believe you have no tax to pay.
“As well as making sure your return is on time, make doubly sure the information is correct.
“HMRC will fine or even look to prosecute you if they believe you have deliberately given incorrect information.
“If you are unsure I would always recommend seeking the services of an ACCA accountant. The up-front cost of an accountant will likely be less than that of a fine for getting it wrong.
“Remember, this deadline exists even if you have no tax to pay.”
Returns up to three months late will incur a fine of at least £100.
The paper deadline is particularly important this year for those using older computers and browsers, as HMRC systems will now only allow filing of online returns through more recent technology.
“While the move to more secure browsers is a sensible one, it may come as an unwelcome shock to those who might be faced with upgrading technology that they don’t really understand or feel comfortable if they miss the paper deadline.”