How much is the fine if you miss the self-assessment tax deadline and how to avoid paying if you get one?
IN AN ideal world you will complete your tax return is as short time as possible and will submit the forms days before the deadline.
However life doesn't always going to according to plan and if you miss the boat you will be slapped with a fine.
The fine varies depending on how late your forms are... find out below how, and if, you can get your decision overturned.
When is the deadline for submitting my tax return?
If you're submitting your tax return online, the deadline is today, so you don't have long.
If you were supposed to fill out a paper form, this should have been filed by October 31, 2016.
There is a further deadline of July 31 for people who make advance payments towards their bill – this is known as payments on account.
In what circumstances will I be fined?
If you've read our useful guide on how to file your tax returns but have still submitted them up to three months late you will be fined £100.
If you submit them later than three months your penalty will vary depending on how just how late you are.
Your fine will also be larger if you have failed to pay your tax bill on time.
In those two circumstances a tool on the HMRC website allows you to
It allows you to calculate fines for the current tax year.
It doesn't take account of partial payments or penalty payments you've made towards your tax bill.
The tool also doesn't consider interest or penalties from previous tax years, or credit you have from previous tax years.
You can appeal if you are fined in the following circumstances.
- You've sent your return in late
- You have paid your tax late
- You have not paid enough tax
- You have failed to keep adequate records
How do I submit my appeal?
If the HMRC sends you a penalty letter an appeal form will come with it in the post.
The appeal should be sent to the HMRC's address for Self Assessment enquiries, which is: Self Assessment, HM Revenue and Customs, BX9 1AS, United Kingdom.
If you receive your penalty notice via email
If you are seeking to overturn a penalty you are only in with a chance if you have a "reasonable excuse".
What's a 'reasonable excuse'?
The HMRC classifies the following as good reasons to file your tax return late -
- Your partner or a close relative has died shortly before the tax return or payment deadline
- You had an unexpected stay in hospital that prevented you from dealing with your tax affairs
- You had a serious or life-threatening illness
- Your computer or software failed just before or while you were preparing your online return
- HMRC's online services had technical issues
- Flooding, a fire, or theft prevented you from completing your tax return
- Postal delays that were unforeseeable
What won't count as a 'reasonable excuse'
If you are going to say the following you might as well not bother appealing -
- You asked someone else to submit it and they didn't
- Your cheque bounced or payment failed because you didn't have enough cash
- You found the HMRC online system too difficult to use
- You didn't get a reminder from HMRC
- You made a mistake on your tax return
If you need any more information about appealing your fine
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