A reminder that HM Revenue and Customs (HMRC) must receive your 2019 personal UK tax return and any money you owe in respect of the year to the 5th of April 2019 by the 31st of January 2020.
If you have been issued with a Notice to File a 2019 UK tax return the return must be completed and lodged if a late filing penalty is to be avoided.
Penalties start at £100 if your tax return is received by HMRC a day late.
An additional daily penalty at the rate of £10 per day is added if the tax return remains outstanding more than 3 months after the due date (with a maximum daily penalty of £900), with additional penalties arising if the tax return remains outstanding more than 6 months after the due date for filing.
These penalties apply even if there is no tax to pay.
If a balance of tax is payable for the 2018/19 UK tax year and has not been paid by the end of January 2020 interest will start to accrue.
Late payment penalties are also payable if tax owing to HMRC in respect of the 2018/19 tax year is not settled, starting at 5% of the tax owing if not paid within 30 days of the 31st of January 2020.
So … if you don’t want HMRC to hit you with late filing penalties submit your 2019 UK tax return before the end of next month!
Remember also that UK tax returns can now only be submitted to HMRC electronically – we are past the 31st October 2019 deadline for submitting a paper tax return for 2019 – and that a Residence supplement must be lodged if you are no longer living in the UK.
The Residence supplement is discussed here, and cannot be lodged through the HMRC website.
If you think you need help preparing and lodging your 2019 UK tax return please complete the enquiry form on this web page. We will be pleased to have an initial no charge discussion about your situation and how we might help.
If you are not sure whether you are required to lodge a UK tax return under the self assessment regime please see the HMRC self assessment questionnaire here.