HMRC has issued a warning regarding paper returns. These must be submitted before 1st November, as any received after that date will incur a £100 penalty – even if there is no tax to pay or the tax due is paid on time.
Anyone unable to submit a paper return by the end of October 2012 can avoid a late-filing penalty by filing their return online by 31 January 2013.
HMRC said: ‘As well as having an extra three months to file, if you file online your tax is calculated automatically and your tax return is processed quicker, so any refund due is repaid more quickly.’
HMRC have already issued around 10.6m self assessment returns/notices to for the 2011/12 tax year.
