What Is The Deadline For My 2011 Tax Return?
If you’re self employed, it’s
important that you meet the tax return deadline this year. You have to complete your Self
Assessment tax return by a certain date otherwise you could face penalties and interest.
Our guide looks at the 2011 tax return deadlines.
Paper based tax return deadline
If you’re self employed, you will have to complete a tax return. You will have received a letter in April/May 2011 telling you that you have to submit your tax return to HM Revenue and Customs (HMRC).
If you have previously sent your tax return on paper, you’ll receive a paper tax return.
If you send a paper tax return for the tax year 2010/11, it must reach HMRC by midnight on 31 October 2011.
If you received the letter telling you to send a tax return after 31 July 2011, you will have three months from the date you received that letter to submit your paper based tax return.
Online tax return deadline
If you submit your tax return online, your return for tax year 2010/11 must reach HMRC by midnight on 31 January 2012.
If you receive the letter telling you to send a tax return after 31 October 2011, you will have three months from the date you received that letter to submit your online tax return.
Penalties for a late tax return
If you miss the deadline for sending your tax return, you may have to pay a penalty. Of course, if you miss the deadline of 31 October 2011 for your 2010/11 paper based tax return you can still complete your tax return online by 31 January 2012.
If you miss the deadline, the longer you delay, the more you’ll have to pay. If your tax return is even one day late you will pay a fixed penalty of £100. If it is three months late you will pay £10 for each subsequent day it is late up to a maximum fee of £900. This is in addition to the fixed penalty of £100.
The penalties then rise if your tax return is 6 or 12 months late.
Steve White - Thursday, August 18th, 2011
It is the first year that I will have sent in a Self Assessment tax return. If I want to send a paper based version, what is the deadline?
Being Self Employed - Thursday, August 18th, 2011
Steve – thanks for your question.
The deadline for a paper return is midnight on 31st October 2011.