Tax returns – the clock is ticking

Tax Return post-it note


Julie Hutchison

29th January 2014 at 2:02pm

Are you one of the 2.5 million people who still hasn’t filed their tax return?

How to avoid a £100 penalty

With only 2 days to go before Friday’s deadline (31st Jan), there’s not much time to avoid the £100 penalty for failing to submit your 2012/13 tax return.

If you’re self-employed, have an annual salary over £100k or have other sources of income to supplement your salary/pension you’ll be required to complete a tax return. The H M Revenue and Customs website provides some great information to help you find out if you’re required to complete one.

As long as you already have an online account with H M Revenue and Customs, you just need to log-in here to get started with your tax return.

But beware of copycat tax websites – make sure you use the official HMRC website, or you it could be more than a £100 fine you need to worry about!

No excuses

Even if your goldfish has died or you’ve been busy touring the length and breadth of the country with your one-man play, don’t think those excuses will wash with HMRC. They’ve heard them before.

Don’t delay and get it sorted

So if you’re one of the 2.5 million who haven’t got round to submitting your tax return – my advice would be to stop reading, go online and get it done today…time is of the essence!

Join the conversation and follow us on twitter @StandardLifeUK and Facebook.

You can now subscribe to regular MoneyPlus blog updates too by simply entering your email address in the subscription bar at the top right-hand corner of the site.