Taxpayers given less time to file a tax return
Deadline brought forward by three months
The filing deadline for paper self-assessment tax returns has been brought forward by three months – from the end of January to the end of October. Those who miss the deadline can expect to incur a £100 fine, plus interest on any tax owed.
Although the change could affect up to 9m people, the measure was not mentioned in the Chancellor’s Budget 2007 speech. It was disclosed only on page 127 of the Red Book, the vast document that lays out the Budget plans in full.
The earlier deadline will take effect from the current 2007/08 tax year. Paper self-assessment tax forms will have to be filed by 31 October 2008. However, taxpayers who file their returns online will still have until the end of January 2009.
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This article is for your general information and use only and is not intended to address your particular requirements. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without appropriate professional advice after a thorough examination of their particular situation. Budget 2007 information included in this article is subject to the Finance Bill becoming law. Your home may be repossessed if you do not keep up repayments on your mortgage.
Article date: 03.07 |
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