The deadline for paper applications passed on October 31, so those who need to file returns but who have yet to do so must do it online by January 31.
“Anyone submitting a paper return now will be charged a fixed £100 late-filing penalty, even if they have no tax to pay or they pay their tax bill on time,” said Stephen Metcalf, Tax Manager of DSH’s Maidstone.
“This time of year also highlights the importance of keeping HMRC up to date with your contact details, especially if you have changed address in the past 12 months,” added Stephen.
“Missed correspondence from HMRC does not count as a ‘reasonable excuse’ for failing to report on time, so it is essential that records are up to date so that reminders come to you in plenty of time for you to act.”
To find out more about DSH Chartered Accountants & Business Advisors, visit www.dsh.co.uk or call 01622 690666.