Self-Assessment Deadlines
If you need to submit a Self-Assessment Tax Return and it is not submitted before the deadline, you will receive an automatic late filing penalty.
Based on the 2016/17 tax year, the deadlines are as follows;
- You’ll need to register for Self-Assessment, if required, by the 5th October 2017.
- Paper Tax Returns need to be submitted by 31st October 2017.
- Online Tax Returns need to be submitted by 31st January 2018.
- Any tax due must be paid by the 31st January 2018.
If you are liable for payments on account, there will be a further payment due by the 31 July 2018.
If you require HMRC to collect outstanding tax through your PAYE Coding Notice, your return must be submitted by the 30th December 2017.
Self-Assessment Late Filing Penalties
If you miss the filing deadline, an automatic £100.00 penalty is due.
If your return is still outstanding 3 months after the deadline, daily £10.00 penalties are issued for 90 days, up to the maximum of £900.00.
If your return is 6 months late, a penalty of 5% of the tax due is issued, or £300.00 if greater.
If your return is 12 months late, a penalty of 5% of the tax due is issued, or £300.00 if greater.
If the return is over 12 months, further penalties could be payable. These penalties are divided in to 2 categories;
- Deliberate and concealed; maximum penalty 100%.
- Deliberate and not-concealed; maximum penalty 70%
Reductions in penalties may apply for prompted and unprompted disclosures.
The tax payer has 30 days to appeal against a tax penalty.
Self-Assessment Late Payment Penalties
If your Self-Assessment payment is not paid on time, the following penalties will apply;
If the amount is not paid within 30 days, a penalty of 5% of the tax due is charged.
If the amount is not paid within 6 months, a penalty of 5% of the outstanding tax is due.
If the amount is not paid within 12 months, a penalty of 5% of the outstanding tax is due.