What if you don’t have all the information you need for the return?
Returns which include provisional or estimated figures should be accepted provided they can be regarded as satisfying the filing requirement.
A provisional figure is one which the taxpayer / agent has supplied pending the submission of the final / accurate figure
An estimated figure is one which the taxpayer / agent wishes to be accepted as the final figure because it is not possible to provide an accurate figure for example where the records have been lost. The taxpayer is not required to tick box 20 of the Finishing your Tax Return section of the return page TR 6 (or equivalent in a return for an earlier year) where estimated figures have been used
Is there a reasonable excuse as to why you can’t file the return?
A reasonable excuse is something that stopped you meeting a tax obligation that you took reasonable care to meet, for example:
1. your partner or another close relative died shortly before the tax return or payment deadline
2. you had an unexpected stay in hospital that prevented you from dealing with your tax affairs
3. you had a serious or life-threatening illness
4. your computer or software failed just before or while you were preparing your online return
5. service issues with HM Revenue and Customs (HMRC) online services
6. a fire, flood or theft prevented you from completing your tax return
7. postal delays that you couldn’t have predicted
8. delays related to a disability you have
What if you make a mistake?
If you make a mistake on your tax return, you’ve normally got 12 months from 31 January after the end of the tax year to correct or amend it.
The Self Assessment Return contain additional information boxes, these are known as white space, use these spaces to explain your calculations if you have any doubt about the answers you have given
Penalties for Late Filing
- 1st Feb 2018 – £100 for missing the deadline
- 30th April 2018 – £10 per day for 90 days after your are 3 months late (£900 in total)
- 31st July 2018 – 5% or £300 which is ever is greater if you are 12 months late
- 31st Jan 2019 – £300 or possibly 100% of tax due if deliberate
On top of these penalties there are also penalties for non payment