Tax Returns in Wirral-Dufton Kellner

Self Assessment Tax Returns in Wirral

The Tax Return contains information on income and capital gains for the tax year. It also enables you to claim relevant tax reliefs or allowances.

The fully completed Return must be submitted to HMRC by the filing dates of 31 October for paper Returns, and 31 January for online Returns.

A system of automatic penalties applies for the late filing of Tax Returns, with an initial penalty of £100 being imposed where a taxpayer fails to submit the Return by the filing date. Additional penalties apply as follows:

  • £10 a day if the Return has not been filed three months after the due date, for a maximum of 90 days
  • For prolonged failures, further penalties of 5% of the tax due (or £300 if greater) arise after 6 months and again after 12 months

Tax and penalties paid late will attract interest, which will be applied from the due date of payment to the actual date of thepayment.

Payments on account of income tax (and Class 4 national insurance contributions) are normally required. These are due on 31 January in the tax year and 31 July following the end of the tax year. Payments are based on one half of the total income tax liability for the previous tax year, less any tax deducted at source.

Payments on account are not required where each payment is less than £500, or where over 80% of the total liability is deducted at source (for example through PAYE).

You have one year from the filing date to make any amendments to the Return. HMRC also reserves the right to make enquiries relating to the Return within a twelve month period from the date the Return is actually filed.

For help with completing your Self Assessment Tax Return, contact Dufton Kellner in Wirral.