Don't miss today's self-assessment online tax return deadline

31 January 2017
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If you’re filing your tax return online, you have until the end of today (31 January) to get everything sorted or face severe fines.

Those who need to submit a tax return for the 2015/16 tax year are generally the self-employed and anybody who earns extra income on the side that isn’t paid through a company pay as you earn (PAYE) scheme.

You may also need to submit a return if:

  • You’ve received more than £2,500 in untaxed income in the last year.
  • You get more than £10,000 from savings or investment income (excluding Isas).
  • You’ve sold investments that are liable for capital gains tax, for example, a buy to let property, or investments that don’t sit within an Isa or pension.
  • You’ve received income from outside the UK.
  • You’ve lived abroad while receiving an income from the UK.
  • You’ve been notified by HMRC that you’ve underpaid your taxes in previous years.
  • You’re a parent with an income over £50,000 and you’re also receiving child tax credits.
  • You’re a higher-rate taxpayer with a pension – as some employers only claim basic tax relief for you, you’ll need to claim higher rate relief yourself.

 

You can’t file for the 2015/16 tax year by paper as the deadline has long passed - it was 31 October 2016. However, it’s also worth keeping in mind that from 2020, all tax returns will need completing online.

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