Tax

Tax self assessment deadline approaches

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Written by Paul Williams   
Tuesday, 06 January 2009
Association of Chartered Certified Accountants says Government is more understanding in current economic climate.

The Association of Chartered Certified Accountants (ACCA) warns that Saturday, 31 January 2009 is the deadline for filing self assessment tax returns on-line and more importantly, missing this deadline will result in a £100 fine from the tax man.

Tax payers filing on this date will need to send any tax payable at the same time. Failing to do so will result on interest being charged on the sum owed.

Chas Roy-Chowdhury, head of taxation at ACCA, said: “There have been problems in the past with HMRC's computer system and in 2008, the deadline was extended for 24 hours to the 1st of February. However, if the IT problem lies with HMRC, then self-assessment taxpayers should always be given the benefit of the doubt.”

Mr Roy-Chowdhury added: “Given the current economic climate, the government has asked HMRC to be more understanding when it comes to making tax payments, especially for businesses and sole traders. There is the opportunity to re-schedule tax payments and pay by instalment if there are problems.”

Key tax deadline dates in 2009 are:

•    31 January 2009: If a Tax Return was received by 31 October 2008, then this is the deadline date for submitting completed 2007 - 08 Tax Return.
•    1 February 2009: If a Tax Return was received by 31 October 2008, then a penalty of £100 will be charged if HMRC has not received a tax return by this date.
•    6 April 2009: This is the start of the new tax year. A Tax Return or Notice to Complete a Tax Return (SA316) will be sent out to all those meeting the criteria to get a Tax Return each year.

Roy-Chowdhury concluded: “It is extremely important to keep a line of communication open to the tax man if someone is experiencing problems with the self assessment process. When contacting HMRC, keep records of e-mails sent or calls made. Always get a name, date and time when the call was made. And most importantly, make sure all tax-related paperwork and e-mails are filed safely. Good record keeping is essential in case anything should go wrong and if an appeal is needed. Legally, paper work needs to be kept for six years.”
 
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