By
Lauren Thompson
Last updated at 1:24 PM on 25th January 2012
Taxpayers have just six days left to file their tax return or face being fined £100 — even if they owe nothing.
Seven million people are preparing to meet the January 31 deadline for filing self-assessment tax returns online.
But anyone who misses the deadline by just a few hours faces new steep penalties from HM Revenue Customs (HMRC).
Paying the penalty: Taxpayers will be charged £100 if they file just a day late
For the first time for online returns, even those who do not owe any money will be forced to pay a fine for filing late.
Taxpayers will immediately be charged a penalty of £100 if they file just a day late.
If the return is more than three months late, there is a £10 daily charge for up to 90 days. This means someone who files six months late could be charged £1,000.
There are also steep charges for
people who fail to pay their tax on time. Someone whose payment is 30
days late will be charged 5 per cent of the tax owed, and another 5 per
cent if the payment is six months late. You will also be charged
interest at 3 per cent.
A spokesman for HMRC says: ‘Don’t put off doing your tax return online this year.
To avoid an unwanted penalty, simply file your tax return online by 31 January’.
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Article source: http://www.thisismoney.co.uk/money/news/article-2091295/Only-days-left-avoid-paying-fines-filing-tax-returns.html?ITO=1490