Do not delay tax returns, says ICAEW

Date: 19th October 2010

Electronic filing of self-assessment tax returns is not always a straight forward procedure.

That is according to industry body the Institute of Chartered Accountants in England and Wales (ICAEW), which has urged those who may be more comfortable filing a paper return to not delay the process.

It comes as the clock ticks down for this month's deadline, with tax returns needing to be with HM Revenue & Customs (HMRC) by midnight on October 31st.

Frank Haskew, head of ICAEW's Tax Faculty, explained: "Electronic filing is not always practical and many will still prefer to file paper copies. So if you want to submit a paper return, you need to do so without delay so as to ensure that you meet the October 31st deadline."

"If you miss this deadline and still file a paper return you may be liable to possible penalties and interest charges."

Currently, taxpayers who miss the deadline are issued with a £100 penalty charge.

Posted by Jacob Williams