A: No, but you’re close to the wire! The deadline for submitting your self-assessment tax form online for the 2011/2012 period is midnight tomorrow – 31st January 2013. This is also the deadline for paying your 2011/2012 tax bill.
You may also have to pay the first of two ‘payments on account’, which are part payments towards your next tax bill. HMRC will usually send you a ‘Self Assessment Statement’ that will tell you exactly what you owe, or you can check your tax bill online.
If you do miss the 31st January cut-off, you’ll be charged £100 if it is only a day late, and £10 for every day after that up to a 90-day maximum of £900.
If it is more than six months late a further £300 or 5% (whichever is higher) of your tax due is charged. And you’ll have to pay all of this even if you have no tax to pay but have to file a self-assessment form. So don’t delay – get online now!
Andrea Ventress, money expert
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