Two Weeks Left to Complete self-Assessment Returns!

Small Business News

13^th January 2012

Business owners and self-employed workers who haven’t submitted a self-assessment tax return must do so online by 31 January or face a penalty, HM Revenue & Customs (HMRC) has warned.

All outstanding tax returns must be completed online. Businesses which file an online return after 31 January, or submit a paper return, will receive a £100 penalty — even if they have no tax to pay.

“Missing the 31 January deadline will mean that self-assessment taxpayers will face penalties,”

said HMRC spokesman Stephen Banyard.

“And we don’t want them to — we want the tax returns not the penalties. We want people to file online and on-time, and avoid facing a completely avoidable penalty.”

Business owners completing a tax return online for the first time will need to register on the HMRC website. HMRC warned that unregistered individuals should sign-up now, because it can take up to seven days for them to receive their activation code.

HMRC has also warned taxpayers not to fall victim to phishing emails sent out by fraudsters in the run up to the 31 January deadline. These emails typically tell people that they are due a rebate and provide a link to a clone of the HMRC website where the recipient is asked to enter their bank or credit card details. Fraudsters then take money from the account using this information.

“We only ever contact customers who are due a tax refund in writing by post,”

said HMRC director of online and digital Joan Wood.

“We currently don’t use telephone calls, emails or external companies in these circumstances. If anyone receives an email claiming to be from HMRC, please send it to This e-mail address is being protected from spambots. You need JavaScript enabled to view it before deleting it permanently.”