What to do if you miss the tax return deadline?

Filing your tax return on time is an important responsibility that individuals and businesses in the UK must fulfil every year. The deadline for submitting your tax return online is usually on 31 January, following the end of the tax year. However, you may face penalties and interest charges on any outstanding tax owed if you miss this deadline.

If you have missed the tax return deadline, the first thing you should do is not panic but instead take immediate action to rectify the situation. You must file your tax return immediately to avoid further penalties and charges. The HM Revenue and Customs (HMRC) offers various options for individuals and businesses to file their tax returns and pay any outstanding tax through their online portal, telephone, or post.

How does it normally work?

In the UK, taxpayers must file their tax returns by the deadline of 31 January following the end of the tax year, which runs from 6 April to 5 April the following year. The deadline applies to individuals and businesses who must report their income, gains, and expenses for the tax year to HM Revenue and Customs (HMRC).

If you miss the tax return deadline, HMRC may impose penalties and interest charges on any outstanding tax owed. The penalties for late filing start at £100 and can increase to a maximum of £1,600 or more, depending on the length of the delay and the amount of tax owed.

To file your tax return late, you will need to submit your tax return as soon as possible using the HMRC online portal, telephone, or post. When you file your tax return late, you may also need to pay any outstanding tax owed and any interest charges and penalties imposed by HMRC.

If you have a reasonable excuse for missing the deadline, such as serious illness or bereavement, you can appeal any penalties or charges imposed by HMRC. However, you must provide evidence to support your appeal, and HMRC will consider your appeal on a case-by-case basis.

What is considered to be “late” by HMRC?

If you file your tax return after the deadline, HMRC will consider it "late." You may face penalties and interest charges on any outstanding tax owed. The penalties for late filing can start at £100 and increase depending on the length of the delay and the amount of tax owed.

It is important to note that if you file your tax return by post rather than online, the deadline is earlier, usually in October or November, following the end of the tax year. If you file your tax return by post after the deadline, HMRC will also consider it "late" and may impose penalties and interest charges on any outstanding tax owed.

It is essential to keep track of the tax return deadline and ensure you submit your tax return on time to avoid any penalties and interest charges. If you are struggling to meet the deadline or have any questions about filing your tax return, you should contact HMRC or seek advice from a qualified tax professional.

Late filing penalties for missing self-assessment deadlines

Late filing penalties are imposed by HM Revenue and Customs (HMRC) in the UK for individuals and businesses that miss the self-assessment tax return deadlines. If you miss the deadline for submitting your self-assessment tax return, you will face a penalty, and the amount of the penalty will depend on how late you are and whether you owe any tax.

The initial penalty for missing the deadline for submitting your self-assessment tax return is £100, even if you don't owe any tax. If your tax return is still outstanding after three months, you will be charged an additional penalty of £10 per day, up to a maximum of £900. After six months, there is another penalty of 5% of the tax due or £300 (whichever is greater). After twelve months, a further penalty of 5% of the tax due or £300 (whichever is greater) will be imposed. Sometimes, you may need to pay 100% of the tax you owe.

You can appeal the penalties if you have a reasonable excuse for missing the deadline, such as an illness or bereavement. However, HMRC will consider each case on its own merits, and you will need to provide evidence to support your appeal.

Appealing a late filing penalty

If you receive a late filing penalty from HM Revenue and Customs (HMRC) in the UK and you believe you have a reasonable excuse for missing the deadline, you may be able to appeal the penalty. However, you must provide evidence to support your appeal, and HMRC will consider each case on its own merits.

To appeal a late filing penalty, contact HMRC as soon as possible and explain why you missed the deadline. You can do this by phone, in writing, or by completing an online form. You should provide evidence to support your appeals, such as a doctor's note, a police report, or other documentation demonstrating your reasonable excuse.

If HMRC accepts your appeal, they will cancel the penalty or reduce it to a lower amount. However, if they reject your appeal, you can take further action by appealing to the First-tier Tribunal (Tax Chamber). This independent body hears appeals against HMRC decisions and can overrule the decision if they find that the penalty was not justified.

Conclusion

To prevent late filing problems and avoid the penalties that come with missing the deadline for filing your tax return in the UK, it's essential to keep accurate records and stay organised. Make sure you know the tax return filing deadline and mark it in your calendar. You can also sign up for HMRC's email reminder service to receive notifications ahead of key deadlines.

Keep track of all your income and expenses throughout the year, and ensure you have all the necessary documentation ready when it's time to file your tax return. Using online accounting software or working with a qualified accountant can help you stay on top of your finances and make the tax return process easier. Finally, if you need help meeting the deadline or have any questions about filing your tax return, seek advice from a qualified tax professional.