Self-assessment tax return deadline approaches

Date: 6th October 2008

Those filing a paper self-assessment tax return have until October 31st to do so or will face a £100 fine.

This year is the first time there has been two separate deadlines for paper and online tax returns, with one all-encompassing deadline previously at the end of September.

According to statistics, more than nine million taxpayers must submit a self-assessment tax return to HM Revenue and Customs each year.

Chas Roy-Chowdhury, head of taxation at the Association of Chartered Certified Accountants, said: "It is really important to keep all records and receipts.

"There is no telling if and when the taxman wants to check paperwork. He imposes fines of up to £3,000 if records are not traceable."

While the biggest change this year is perhaps the January 31st online self-assessment tax return deadline, taxpayers should also expect the forms to look slightly different from 2007.

Last year, nearly four million taxpayers filed their self-assessment tax return online, rather than by post.