Income Tax Self-assessment

2. Your Obligations

HM Revenue & Customs must receive your tax return by 30 September if you do not want to calculate your own tax bill.

2.1 If you have an adviser or can calculate your own tax, you can delay sending in your tax return until the 'fixed filing date', which is 31 January.

• If you are sending the form in the post, allow a few days for delays. You can also file tax returns over the Internet. Visit www.ir-portal.gov.uk.
• If you fail to submit your tax return by 31 January, you will incur a fine of £100.You will be fined a further £100 if the tax return is still outstanding on 31 July. If you still fail to submit your tax return after this date, you can be fined up to £60 a day.
• Your fine will be related to the tax due if you fail to submit your return within 12 months, but cannot exceed the total you owe.

2.2 You must pay your tax on time.

2.3 You must keep detailed records to support the information provided in your tax return.

• The self-employed, those in partnership and those who let property must keep records for five years after the fixed filing date.
• Other taxpayers are required to keep records for 22 months after the end of the tax year to which the information relates.