A vitally important HMRC deadline is just hours away and those who miss it could be slapped with a £300 fine.
October 31 is not just scary because it’s Halloween – it’s also the day that many people need to file a self-assessment tax return.
And while tax doesn’t have to be taxing, it can certainly land you an unwelcome fright if you miss today’s self-assessment tax return deadline and end up with a fine.
More than 83,000 people earning too little to even owe any tax at all to HMRC – so, less than £12,570 – have been fined up to £300 for failing to file a tax return on time, with fines starting at £100 for three months’ lateness.
The Personal Allowance is £12,570, which means that any money you earn below that amount is not subject to Income Tax, assuming you have no other income.
But HMRC may in many circumstances, such as being self-employed, ask you to file a self-assessment tax return, the deadline for which is October 31 if filing a paper return (which many have to use for certain reasons) or January 31 online.
Even if you don’t owe any tax, you can still be fined for failing to file a tax return which would prove this.
If you do miss today’s deadline, there are some ways you can appeal and have your £100 fine overturned.
According to HMRC, a reasonable excuse is something that stopped you meeting a tax obligation for a valid reason, for example:
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your partner or another close relative died shortly before the tax return or payment deadline
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you had an unexpected stay in hospital that prevented you from dealing with your tax affairs
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you had a serious or life-threatening illness
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your computer or software failed while you were preparing your online return
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issues with HM Revenue and Customs (HMRC) online services
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a fire, flood or theft prevented you from completing your tax return
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postal delays that you could not have predicted
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delays related to a disability or mental illness you have
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you were unaware of or misunderstood your legal obligation
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you relied on someone else to send your return, and they did not
An HMRC spokesperson said: “The government recognises that taxpayers who occasionally miss the filing deadline should not face financial penalties and reform of the system is under way. Our aim is to support all taxpayers, regardless of income, to get their tax right and avoid fines.
“The overwhelming majority of customers file on time.”
