Personal Tax Return penalty or not?

[YNWA]

Hi

Need someone in the know to confirm something please in regards to submitting a Paper Personal Tax Return.

As I understand it, I can submit a Paper Tax Return today and as long as the tax due is paid in full by 31 Jan, there will be no penalty.

Am I correct?

Thanks

[QwertyBerty]

I think the deadline for paper returns has come and gone. I believe the deadline for online returns is end of Jan.

QB.

[DimPrawn]

Hi

Need someone in the know to confirm something please in regards to submitting a Paper Personal Tax Return.

As I understand it, I can submit a Paper Tax Return today and as long as the tax due is paid in full by 31 Jan, there will be no penalty.

Am I correct?

Thanks

No, paper returns are long gone and you can't just file online. You need to send of for an access code and that takes ages to arrive by post, so you are fooked.

Kerrching!

[YNWA]

The rule has always been, if there is no tax due as at 31/01/09 then no penalty can be charged?

Or if there is a refund due, even if the Return is late then no penalty can be charged?

Or am I wrong on both counts?

[ASB]

The rule has always been, if there is no tax due as at 31/01/09 then no penalty can be charged?

Or if there is a refund due, even if the Return is late then no penalty can be charged?

Or am I wrong on both counts?

It **used** to be the case that the penalty was limited to the tax owing. Thus if no tax was actually due then no penalty. BUT I seem to recall the rule was changed a few years ago such as the non filing penalty became a specific penalty. I think it can also eventually cost 60 quid per day for not filing under some circumstances.

[YNWA]

Taken these bits from accounting web:

''The initial penalty for a late individual return is £100, but this is capped at the amount of tax outstanding at 31 January. This capping process does not apply to partnership returns which must be filed online to avoid the penalty of £100 per partner.''

''Paper returns may be filed for cases where it is not possible to file online. This includes the 'excluded cases' and other taxpayers unable to file online, such as those without a UTR. For excluded cases, no penalty will apply. For other taxpayers you will need to ensure that the tax is paid by 31 January to cap the penalty at nil. ''


http://www.accountingweb.co.uk/cgi-b...&h=1023&f=1026

Link above for whole article...

thanks

[Alan @ BroomeAffinity]

Non-filing penalties are limited to the tax due. So if no liability - no penalty.

Also, even if you have a liability and yuo can demonstrate that it is the fault of HMRC that you couldn't file on time, because, for example, they haven't issued a UTR then the panalty may be waived. I have spoken to HMRC who confirmed this - OTR of course.

[DimPrawn]

Non-filing penalties are limited to the tax due. So if no liability - no penalty.

Also, even if you have a liability and yuo can demonstrate that it is the fault of HMRC that you couldn't file on time, because, for example, they haven't issued a UTR then the panalty may be waived. I have spoken to HMRC who confirmed this - OTR of course.

We'll see. Don't file and you get a £100 fine. If you owe £0, the fine still stands.

[Cheshire Cat]

and if you have not received a demand/reminder to submit a personal return at all, you can't be fined? correct or not?

[Ruprect]

and if you have not received a demand/reminder to submit a personal return at all, you can't be fined? correct or not?

I doubt it - burden of proof would be on HMRC then wouldn't it? Don't think they'd bother if they can get away with it.