Property News · January 7, 2012

Self-assessment tax: tougher penalties for late returns


File your tax return a minute after the midnight deadline and the new system means you will be fined … whether you owe money or notWhile many of us were welcoming in 2012, more than 11,000 people decided that New Year’s Eve was just the time to file their tax return. A hardcore of 102 diligent taxpayers opted to forsake the pubs, parties and Jools’ Annual Hootenanny on the BBC, and submitted their return between 11pm and midnight that evening. A further 8,900 people sent back their online tax return on New Year’s Day.The partygoers among us may see them as a dull lot, but we might change our tune as the self-assessment deadline date of midnight on 31 January approaches. More than half a million people filed their online tax return that day last year. Continue reading…

Source : theguardian.com
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