By now, if you’ve got to file a personal tax return for the 2011 tax year, you should either have received one or a letter saying so. The deadline for submission of tax returns is 31 January 2012, so there is plenty of time at the moment. However, there are a couple of reasons why you might want to get it sorted sooner rather than later:
- You will know if you owe any tax sooner, so will be able to prepare accordingly. Personal income tax and national insurance is payable by 31 January 2012.
- You may need the same figures to renew your tax credit claim. The deadline for notifying the tax credit office is 31 July 2011.
- The penalty regime has changed for late filing, and is now much greater. For instance, a tax return filed 6 months late could attract penalties of at least £1,300.
So it makes sense to get your tax return submitted. We can help, see here.
Please note: posts were written at a specific time and reflect the rules in place at that time, which may no longer be relevant. Furthermore, the posts are generic in nature. We cannot accept any responsibility for any losses in respect of actions taken on the strength of this generic advice. We would advise you to seek up to date advice which is relevant to your circumstances.
