Key tax dates and deadlines for 2018/19
It is an inevitable reality that, for anyone earning a livin...
By Lynne Gowers on 19th January 2018
As we approach the self-assessment tax return deadline of 31st January, HMRC have revealed the top excuses for late submissions in the last year.
One taxpayer bizarrely claimed that he was prevented from completing his tax return on time because his wife was seeing aliens and wouldn’t let him in the house. Now that’s quite a stretch by anyone’s standards!
Almost 11 million people in the UK are required to do an annual self-assessment tax return, usually because they are self-employed or have multiple sources of income.
Last year, nearly 33,000 people filed in the hour leading up to the deadline of midnight on 31st January, while a further 840,000 missed the deadline completely.
Missing the deadline means being instantly stung by a £100 fine and if you then fail to file within three months you’ll incur a penalty of £10 per day, up to a maximum of £900.
HMRC’s Director General of customer services, Angela Macdonald, said:
“Each year we’re making it easier and more intuitive for our customers to complete their tax return. But each year we still come across some questionable excuses, whether that’s blaming a busy touring schedule or seeing aliens.”
“However, help will always be provided for those who have a genuine excuse for not submitting their return on time.”
In certain circumstances HMRC will waive penalties or grant an extension if you have reasonable justification, for example a hospital stay or postal strike. But the taxman was less accommodating of the following excuses:
HMRC was similarly unimpressed by some of the claims for tax-deductible expenses, and reminded taxpayers that only legitimate expenses are acceptable. They released some examples of expense claims that were thrown out:
The self-assessment cut-off date of 31st January is also the date by which HMRC must receive any money you owe. Depending on how you pay your tax bill, ensure you leave enough time for the payment to go through; if you pay by BACS, for example, it takes 3 days.
Also, don’t forget that as of January 13th, HMRC are no longer accepting payment by personal credit card. Read more about this
Time is running out but don’t panic. Our personal tax team may still be able to help you prepare and file your self-assessment. Get started by clicking the link below or give us a call.
Take a look at our recent blogs below.
As a business owner, your time is way too precious to spend hours dealing with HMRC or Companies Hou...
Published: 14th May 2018
“Never do tomorrow what you can do today. Procrastination is the thief of time” Charles Dicken...
Published: 11th May 2018
Congratulations! The very fact you clicked this far shows you are considering employing staff, and t...
Published: 17th April 2018
It is out with the old and in with the new when it comes to tax relief on childcare costs from April...
Published: 9th April 2018
The Boox accounting app has always been at the forefront of helping our clients understand their com...
Published: 26th March 2018
Spring has officially sprung and the start of the 2018/19 tax year is just around the corner –...
Published: 23rd March 2018
If your business is employing staff, you should already have a workplace pension in place, under the...
Published: 23rd March 2018
At this time of the year we are used to seeing the Chancellor holding aloft the red box ahead of the...
Published: 15th March 2018
A dispute has erupted between the BBC and 170 of its presenters over their tax arrangements and thei...
Published: 12th March 2018
The rush for taxpayers to file their 2016-17 self-assessment tax return is over for another year, an...
Published: 27th February 2018
If you are in the process of setting up a limited company or you are already the owner of an incorpo...
Published: 16th February 2018
If you need a little help to find the right accountancy service, don’t worry.
Get in touch with our friendly team for a FREE service consultation.
Thousands of contractors, freelancers and locums turn to Boox for help and advice with their limited company accounting. They love our personal service and app.
Specialist accounting for sole traders and the self employed, Boox combines easy online tools with expert support to take away the stress of handling your accounts.
Our combination of market-leading accounting software and expert personal advice gives you greater financial control and more time to grow your business.