Self Assessment deadline looms for paper returns

Taxpayers in Northern Ireland and the rest of the UK are being notified by HMRC to submit their self assessment tax returns before 1st November 2012 in order to avoid the automatic £100 late filing penalty.

Unlike earlier tax years the late filing penalty will still apply even if there is no tax due or the tax is paid on time. Anyone who is unable to submit a paper return by the deadline date can submit their return online by 31st January 2013 and thus avoid the late filing penalty.

HMRC are encouraging taxpayers to use the online filing system as this gives them an extra 3 months to submit the form, tax is calculated automatically and the return is processed faster.

Wilson Nesbitt Solicitors based in Belfast & Bangor can assist with completion of your self assessment forms and in most cases can file your return online. If you need to speak with one of our tax advisors please contact us by calling 0800 840 9288.