HMRC have warned British tax payers that if they do not file their paper tax returns on time that they will be issued with a tax penalty . . .

The 31 October deadline for submitting Paper Tax Returns to HM Revenue and Customs (HMRC) is only 32 days away.

HMRC have warned tax payers on their website that should they miss the paper tax return deadline by one day – 1 November – that they will automatically be ‘hit’ with an £100 tax penalty, regardless of whether tax was owed or has been paid on time or not.

A new tax penalty regime was introduced this year that means the later you submit your paper tax return to HMRC (after the 31 October deadline) the more you will have to pay.

Further late filing penalties have been introduced for three, six and 12 months after the 31 October paper tax return deadline.

Click here for more information on HMRC’s new tax penalties – ‘Strict HMRC late tax return penalties’

To avoid a late-filing tax penalty, you must act very quickly to complete and send in your paper tax return – whilst keeping your fingers crossed for Royal Mails co-operation with next day delivery.

If you are unable to submit your paper tax return to HMRC on time, you can dodge a tax penalty by filing your tax return online.

Online tax returns must be completed and received by HMRC on or before the 31 January.

Although, If you have sent your paper tax return to the Revenue after the 31 October deadline and then panic and decide to also file your tax return online. You will still be issued with the initial £100 HMRC tax penalty for filing your paper tax return after the deadline.

As well as gaining an extra three months to file your tax return, there are additional benefits to using HM Revenue and Custom’s online tax return filing facilities.

It may save you time and confusion, as your tax is automatically calculated for you;
you gain instant re-assurance that HMRC have received your tax return, as you will be issued with immediate acknowledgement of submission online; and
your tax return will be processed quicker when submitted online. Meaning any money you may be owed will be paid out to you sooner.
If you have missed the 31 of October deadline for paper tax returns you can register for HMRC’s online tax return services via their website.

Kevin Kinsella Jnr, of KinsellaTax, said:

“I was concerned to read the judgement of Geraint Jones QC who said in the tax penalty case of HMD Response Ltd:

‘Such high-handed threatening action was not justified. It smacks more of the conduct of a disreputable debt collector than of responsible conduct by an organ of the state’

“When I read that £35bn tax has also not been recovered and that HMRC are patting themselves on the back in so far as it is a reduction of £4bn outstanding from the previous year, perhaps staff dealing with late tax returns should be employed in trying to gather the £35bn outstanding rather than seeking £100 tax penalties.

“I think the priorities at HMRC need to be scrutinized.”

If your Income Tax Returns are under self assessment enquiry by HMRC, you need to seek professional help now.

KinsellaTax staff consists of ex-HM Inspector of Taxes and ex-HM Custom and Excise Officers, fully experienced in HMRC investigations.

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