Tax trivia
Self assessment key dates
If you completed a paper Tax Return for 2006-07 and sent it back by 30 September 2007, HM Revenue & Customs (HMRC) will:
• Calculate your tax
• Tell you what to pay by 31 January 2008
• Collect tax through your tax code, if possible, where you owe less than £2,000
If HMRC received your paper Tax Return after 30 September and process it by 30 December, they will still calculate your tax and endeavour to collect tax through your tax code but they can't guarantee to tell you what to pay by 31 January 2008.
If you were sent a Tax Return by 31 October 2007, the deadline for sending back your completed 2006-07 Tax Return is 31 January 2008.
If you were sent a Tax Return by 31 October 2007, you will be charged a penalty of £100 if HMRC have not received your return by 1 February 2008.
The new tax year starts 6 April 2008. A Tax Return or Notice to Complete a Tax Return (SA316) will be sent out to all those who meet the criteria to get a Tax Return each year.
Need more information? Please email or contact us with your enquiry.
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This article is for your general information and use only and are not intended to address your particular requirements. The articles are based on our understanding as at the 7th November 2008. They should not be relied up on in their entirety. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without receiving appropriate professional advice after a thorough examination of their particular situation. Articles that make reference to the Pre-Budget Report are subject to the Finance Bill becoming law. |