Three weeks until self-assessment deadline

10th January 2019 | News

HM Revenue and Customs (HMRC) has warned there is less than a month to go to complete and submit online self-assessment tax returns for the 2017/18 financial year.

Some 5.5 million UK taxpayers were yet to file their self-assessment returns at the turn of the New Year and HMRC is keen to raise awareness of the 31st January deadline to help individuals avoid unnecessary late filing penalties.

Angela MacDonald, Director General for Customer Services, HMRC, said: “The self-assessment deadline on 31st January is fast approaching but there is still time for customers to file their tax returns online and on time to avoid any unnecessary penalties.”

How do I know if I need to complete a self-assessment tax return?

UK taxpayers may be required to file a self-assessment tax return with HMRC in the following circumstances:

Please note that this list is not exhaustive. Please seek professional advice if you are unsure whether you are obliged to file a tax return or would benefit from filing a voluntary tax return.

What are the penalties for late self-assessment tax returns?

If you have only just discovered that you need to file a self-assessment tax return for the 2017/18 financial year, time is of the essence.

Your TaxAssist Accountant can work with you to calculate your tax liabilities, complete your tax return online and submit it using HMRC-approved software. They will even liaise with you on the amounts to be paid and their respective due dates.

This comprehensive service is available for a fixed, competitive price, giving you complete peace of mind. To arrange a free initial consultation on self-assessment ahead of the 31st January 2019 deadline with your local TaxAssist Accountant call 0800 0523 555 or drop us a line using our online enquiry form.