TaxPersonal TaxQ&A: Self-assessment filing deadline

Q&A: Self-assessment filing deadline

Frank Haskew and Francesca Lagerberg of the ICAEW's tax faculty of the ICAEW's tax faculty advise on self-asssessment filing deadlines.

Question

: I have missed the 30 September deadline. What should I do?

Answer: Don’t panic! The filing deadline for self assessment returns for 5 April 2001 is 31 January 2002 and any outstanding tax is also due on that date. The 30 September deadline applied if you wanted the Revenue to calculate your tax and tell you how much was due in time for the 31 January payment date. In practice, the Revenue will normally still calculate your tax and let you know how much is due even after the 30 September deadline, but you cannot rely on it.

Question: Have I worried unnecessarily?

Answer: The 30 September certainly causes confusion and needless panic. Missing the deadline places more responsibility on the taxpayer, as calculating your tax liability these days is fiendishly difficult, even for tax advisers.

The tax calculation worksheet is a forbidding document and many find that working through it is perhaps about the most difficult (and depressing – particularly when you get to the end) chore that they ever have to undertake.

Question:So I need to calculate my tax – where can I get help?

Answer:Obviously you can use a professional adviser (such as a chartered accountant) who will bear the strain. Alternatively if you decide to go it alone there are various software programs available, which are relatively inexpensive and can be of assistance. Alternatively you can file over the Internet and advice on this can be obtained from the Inland Revenue’s website

Links

Online returns grow – slowly

Related Articles

HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

1w Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2w Emma Rawson, ATT Technical Officer
Wealthy individuals could circumvent top tax rate rises

Personal Tax Wealthy individuals could circumvent top tax rate rises

2m Alia Shoaib, Reporter
HMRC tax evasion assistance requests double in five years

Corporate Tax HMRC tax evasion assistance requests double in five years

4m Emma Smith, Managing Editor
Rangers tax case to have ‘dramatic’ consequences for football and business

Legal Rangers tax case to have ‘dramatic’ consequences for football and business

4m Emma Smith, Managing Editor
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

3m Emma Smith, Managing Editor
Industry reaction: Taylor Review does not go far enough in addressing tax issues

Legal Industry reaction: Taylor Review does not go far enough in addressing tax issues

3m Alia Shoaib, Reporter
Does the Taylor Review sufficiently address the gig economy?

Corporate Tax Does the Taylor Review sufficiently address the gig economy?

3m Alia Shoaib, Reporter