If Island residents still haven’t sent in their 2011-12 Self Assessment tax return, they have just got just a few days left to do so and avoid a penalty.
Send your 2011-12 return to HM Revenue and Customs (HMRC) after 31st January and you’ll receive a £100 late-filing penalty – even if you don’t have any tax to pay, or you pay your tax on time.
The more you delay, the more you pay, as you’ll be hit with further late-filing penalties after three, six and 12 months.
HMRC found that people often felt a real sense of relief, or peace of mind, once they sent in their return – like a weight being lifted from their shoulders. A new ad campaign is encouraging people who still haven’t sent their return to “do it today, pay what you owe and take a load off your mind”, so they can experience “inner peace”.
And don’t forget, 31 January is also the deadline for paying what you owe for the 2011-12 tax year – visit www.hmrc.gov.uk/payinghmrc/selfassessment.htm for information on payment options.
Further information on completing your tax return is available by visiting HMRC’s website at www.hmrc.gov.uk/sa. If that doesn’t answer your question, call the Self Assessment helpline on 0845 9000 444 (open from 8.00am to 8.00pm, Monday to Friday, and 8.00am to 4.00pm on Saturday).
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