Penalty warning for paper tax returns


Penalty warning for paper tax returns

With the 31 October deadline for paper tax returns very close, HMRC is urging taxpayers to get their paper tax return in on time, or face a penalty.

Those that send in a paper tax return on or after 1 November, will now be hit with a £100 penalty - even if there is no tax to pay or the tax due is paid on time - following the introduction of a new penalty regime this year. Also, the longer they delay, the more they'll have to pay, as there are further late-filing penalties after three, six and twelve months. Those that can't send in a paper return by 31 October can still avoid a penalty by sending their tax return online instead by 31 January. However, if they send in a paper return after the 31 October deadline, they cannot avoid the initial £100 penalty by subsequently filing online.

This was first published in October 2011

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