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Introduction »
Another income tax return deadline is looming
What! £1,200 penalty just because an income tax return hasn't been submitted?
Income Tax returns for the 2011/12 tax year are due to be with HMRC by 31 January 2013. This is the second tax year for which HMRC can charge significantly higher penalties for the late submission of returns. There are around 500,000 people who discovered in August or September what this means because they had still not submitted their 2010/11 tax returns. These returns should have been with HMRC by 31 January 2012.
The penalties that were issued were for a minimum £1,200, comprising:
- the maximum £900 in daily penalties for non-filing
- a further late filing penalty of £300 or 5% of any tax still due (whichever is higher).
These penalties are in addition to the initial £100 late filing penalty for missing the 31 January filing deadline, which would have been issued in late February and early March.
So if we are pressing you for information to complete your tax return, this is because we have your best interests at heart.
In summary, the key dates for the 2011/12 income tax return in respect of penalties where the deadline for submission is missed are:
| Date |
Penalties for late returns |
| 1 February 2013 |
An initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time. |
| 1 May 2013 |
Start of the £10 for each day penalty - up to a 90 day maximum of £900. This is as well as the fixed penalty above. |
| 29 July 2013 |
The maximum daily penalty will have been reached of £900. |
| 1 August 2013 |
The tax return is now over six months late, so in addition to the above penalties, there is a further penalty of £300 or 5% of the tax due - whichever is the higher. |
Introduction »
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