Online tax return deadline this Thursday

17 January 2013

There are just three working days left to file your online self-assessment tax returns and pay what you owe.

Submit your return for the 2011/12 tax year to HM Revenue and Customs (HMRC) after Thursday 31 January late and you'll automatically be fined £100 - even if you have no tax to pay.

The longer you leave it, the more you'll rack up in penalty fines as further late fees kick in after three, six and 12 months.

After three months, daily penalties of £10 per day, up to a maximum of £900, will be charged. After six months you'll have to stump up a further 5% of tax due or £300, whichever is greater. And after 12 months you'll have to pay another 5% or £300, whichever is greater.

If you're filing for the first time this year, you have already missed the deadline for paper forms - which was at the end of October - so you'll have to use the online system.

To do this, you must register for HMRC's online service at to obtain a user ID and password.

You must do this by Monday 21 January as it can up to seven working days to receive the activation code you will need to log in for the first time.

If you've filed online before but have lost your password or user ID and need a replacement, you should also contact HMRC by this date.

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