The deadline for filing the self-assessment tax return for the tax year ended 05 April 2011 is 31 January 2012. If you miss this deadline you will have to a penalty of £100. This penalty is due even if you have no tax to pay. The longer the delay, the more the penalty payable as shown in the following table:
| Delay | Penalty payable |
|---|---|
| 1 day | A fixed penalty of £100 applies even when there is no tax to pay or all taxes due have been paid |
| 3 months | £10 for each following day – up to a maximum penalty of £900 plus the fixed penalty of £100 above i.e. £1,000 in total |
| 6 months | £300 or 5% of the tax due, whichever is the higher plus (£900 + £100) = £1,000 penalty above. |
| 12 months |
£300 or 5% of the tax due, whichever is the higher plus (£900 + £100) = £1,000 penalty above. In serious cases a penalty up to 100% of the tax may be payable as penalty. |
A penalty is not payable if there is a ‘reasonable excuse’ for missing the deadline. What is a ‘reasonable excuse’ has been the subject of a myriad of tax cases over the years and would depend on individual circumstances. Generally if any exceptional or unexpected events or circumstances, beyond one’s control, caused the delay then the penalty may not apply.
