Remember to send tax returns online
BUSINESSES in South Devon are being reminded that if they haven't sent in the 2011/12 tax return, it must now be sent online to avoid a penalty, as the October 31 deadline for paper returns has now passed.
HM Revenue & Customs advises that paper tax returns received on or after November 1 will result in a £100 penalty – even if there is no tax to pay or the tax due is paid on time. The longer you delay, the more you'll have to pay, as there are further late-filing penalties after three, six and 12 months.
Every year, 63,000 people in the Torquay area have to file a Self-Assessment return.
The online tax return must reach HM Revenue & Customs (HMRC) by January 31, 2013.
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A spokesperson said: "If you haven't sent an online tax return before, you need to register for HMRC Online Services in good time. This will allow HMRC time to send you your Activation Code. Registering for HMRC Online Services is simple – just go to www.hmrc.gov.uk/online
"It's important to remember that if you do send a paper return after the October 31 deadline, you cannot avoid the £100 penalty by subsequently filing online."
For general help and advice on completing a return, visit www.hmrc.gov.uk/sa or call the Self Assessment helpline on 0845 9000 444.