Jan 16

Self assessment deadline approaching | 31 January 2019

The deadline for submitting your 2017/18 self assessment return is 31 January 2019. The deadline applies to taxpayers who need to complete a tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 National Insurance Contributions (NIC), capital gains tax and High Income Child Benefit Charge liabilities.

There is a penalty of £100 if a taxpayer’s return is not submitted on time, even if there is no tax due or the return shows that they are due a tax refund.

The balance of any outstanding income tax, Classes 2 and 4 NIC, capital gains tax and High Income Child Benefit Charge for the year ended 5th April 2018 is also due for payment by 31 January 2019. Where the payment is made late interest will be charged.

The first payment on account for 2018/19 in respect of income tax and any Class 4 NIC or High Income Child Benefit Charge is also due for payment by 31st January 2019.

HMRC revealed that more than 2,600 taxpayers filed their return on Christmas Day. If you would like help with your return or agreeing your tax liability please contact us.

Internet links: GOV.UK self assessment GOV.UK press release

Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedIn
Open Quote

My firm and family can only but support and endorse your endeavours. Thank you for your ever willing help, from all colleagues at every level of Sage and Company, to reduce any concerns that I may have had to enable my life to be as ‘stress free’ from as many ‘financial worries’ as painlessly as it is possible to be, and with such a pleasant attitude and disposition.

 

Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedIn

 

Close Quote