"Tax doesn't have to be taxing"
Blog Plummer Parsons | 21 January 2010
You must send your online tax return by midnight on Sunday 31 January 2010. The deadline is only later than this if it was after 31 October when HM Revenue & Customs (HMRC) asked you to complete a return - see the section ‘Tax return or ‘Notice to file’ received after 31 October’.
There’s a very small number of cases where HMRC will still allow you to send your tax return on paper.
If HMRC receive your tax return after 31 January you’ll get a late filing penalty of £100.
If you miss the deadline for your personal tax return, you won’t have to pay the penalty if you pay all of the tax you owe by 31 January.
Ignorance of tax rules is no excuse for getting your tax return wrong or for non completion.
Popular myths
The Institute of Chartered Accountants in England and Wales (ICAEW) points out that there are a number of tax myths that can get people into trouble when they are filling in their returns. These myths include:
- the belief that money kept overseas is not taxable
- that children’s income is not taxable
- People also believe that students do not have to pay tax in their first year at university
- that if you let a room to a lodger the income is not taxable
- the belief that the state pension is not taxable
- that you do not need to pay tax if you work for cash.
Don't get caught out. Contact our specialist teams today for some free advice, at any of our offices, by calling or by clicking here.
At Plummer Parsons we're a colourful bunch.
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