Have you filed your 2012 Self Assessment Tax Return?

SA monthly online figures 2011-12

While millions of people were exchanging presents, feasting on turkey, and nodding off in front of the television, 1,548 people decided to take time out from the yuletide festivities and do their tax return online – a 40 per cent increase on Christmas Day 2011, when 1,100 people filed online.

A new HM Revenue and Customs (HMRC) advertising campaign starts this week, urging anyone who still hasn’t sent in their 2011-12 tax return to “do it today, pay what you owe and take a load off your mind”, so they can experience “inner peace” – something that the 20,563 Christmas Eve, Christmas Day and Boxing Day filers are no doubt feeling already.

Images of the new “inner peace” ads, as well as infographics on last year’s filing trends, are available from HMRC’s Flikr channel at http://www.flickr.com/hmrcgovuk

The penalties for late Self Assessment returns are:

  • an initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time;
  • after three months, additional daily penalties of £10 per day, up to a maximum of £900;
  • after six months, a further penalty of 5 per cent of the tax due or £300, whichever is greater; and
  • after 12 months, another 5 per cent or £300 charge, whichever is greater.

There are also additional penalties for paying late of 5 per cent of the tax unpaid at: 30 days; six months; and 12 months.

http://hmrc.presscentre.com/Press-Releases/Many-happy-returns-of-the-season-68585.aspx

You may find some of my previous blogs useful:

Subcontractors

http://stevejbicknell.com/2012/05/07/self-assessment-tips-for-subcontractors/

Late Filing

http://stevejbicknell.com/2012/10/15/reasons-excuses-for-filing-your-self-assessment-return-late/

Pension Payments

http://stevejbicknell.com/2012/10/06/employer-vs-employee-pension-payments-net-relevant-earnings/

Tax Codes

http://stevejbicknell.com/2012/01/21/is-your-tax-code-right/

Loan Interest

http://stevejbicknell.com/2012/01/05/lend-money-to-your-company-and-get-interest/

Dividends

http://stevejbicknell.com/2012/01/04/things-you-need-to-know-about-dividends/

Business Expenses

http://stevejbicknell.com/2011/12/20/how-to-claim-tax-relief-for-employment-expenses/

Business Mileage

http://stevejbicknell.com/2011/12/19/tax-refund-for-business-mileage/

Self Employed

http://stevejbicknell.com/2011/12/23/self-employed-tax-allowances/

Capital Allowances (companies need to file these on their CT600 Corporation Tax Returns)

http://stevejbicknell.com/2012/02/15/the-hidden-capital-allowances-in-your-building/

http://stevejbicknell.com/2012/01/09/capital-investment-appraisal-tax-and-depreciation-the-basics/

Unclaimed Tax Relief  £12.6bn

http://stevejbicknell.com/2012/05/12/12-6-billion-in-unclaimed-tax-relief-and-refunds/

You will need to file on-line, but just in case you would like to see what the 2012 return looks like here is a link:

http://www.hmrc.gov.uk/forms/sa100.pdf

steve@bicknells.net

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4 thoughts on “Have you filed your 2012 Self Assessment Tax Return?

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