New Late Filing Penalty Regime for UK Tax Returns

Jane Cooper 11 November, 2011

The 31/10/2011 deadline for lodging a 2011 personal UK tax return on paper has now passed. This means that all who are required to submit a 2011 UK return must now work towards the deadline for lodging the return electronically – 31/01/2012.

Importantly, this year sees the removal of the reduction in the late filing penalty if there was no tax outstanding at 31/01 in respect of the tax year to which the tax return relates.

For tax year 2011 onwards all taxpayers who miss the self assessment filing deadline will be immediately liable to a £100 late filing penalty even if there is no outstanding balance due to HM Revenue at 31/01/2012.

Daily penalties of £10 per day will also be payable if the tax return is still outstanding 3 months after the filing due date.

Details of the new late filing penalty for UK tax returns are here.

For those living in Australia with an outstanding UK tax return GM Tax can assist with the submission and electronic lodgment of the tax return from our offices in Australia. Please feel able to contact us to discuss your situation and a no obligation fee proposal.