Fines for late HMRC returns

HUNDREDS of thousands of selfemployed workers who missed the tax filing deadline face daily penalties if they fail to submit their return within the next week.

Around 731,000 people missed the January 31 deadline, and if they do not act before April 30, they will be fined £10 a day for up to 90 days plus a £100 late filing charge. After 90 days, the penalties will increase. To avoid further charges, set up an account via gov.uk/log-in-file-selfassessmenttaxOr ring HMRC on 0300 200 3310 for advice.

Accountant Derek Kelly, of Nixon Williams, says: ‘To avoid a fine make sure your tax return is completed on time. HMRC will consider mitigating circumstances.’