Avanti will complete your tax return online, on-time, with no fine!

Are you one of the 758,707 people who at this time last year had not filed, and still haven’t filed your tax return for the year-end 2018?

The Avanti team are working as hard as the elves in Santa’s workshop as they aim to submit all clients tax returns online.ontime.no fine for the 19th consecutive year.

The 31st January 2018 saw a huge 10.7 million customers submitting their tax return, making it a record breaking submission for HMRC.  A whopping 9.9 million self assessment returns were completed online, more than 92.5% of the total return submitted were online.

Thousands of customers avoided any penalties at the last minute, as 30,348 customers completed their returns from 11.00pm to 11:59pm

No Excuse

The top 5 excuses for not submitting a tax return revealed by HMRC are;

1. My tax papers were left in the shed and the rat ate them
2. I’m not a paperwork orientated person – I always relied on my sister to complete my returns but we have now fallen out
3. My accountant has been ill
4. My dog ate my tax return (it didn’t work in school, and it won’t work now)
5. I will be abroad on deadline day with no internet access so will be unable to file

These excuses did not work as appeals against penalty submission. Be warned, late submission will result in penalties!

What if you miss the submission deadline?

The penalties (as listed on gov.uk) for late tax returns are:

• an initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time
• after 3 months, additional daily penalties of £10 per day, up to a maximum of £900
• after 6 months, a further penalty of 5% of the tax due or £300, whichever is greater
• after 12 months, another 5% or £300 charge, whichever is greater

There are also additional penalties for paying late of 5% of the tax unpaid at 30 days, 6 months and 12 months.

Still not registered for self assessment?

HMRC advise “If you did not send an online return last year, allow extra time (up to 20 working days) as you’ll need to register first.”

Who has to file?

If your only income comes from wages or a pension, you don’t normally have to submit a tax return, but you may need to send one if you have any other untaxed income, such as:

• money from renting out a property
• tips and commission
• income from savings, investments and dividends
• income from self employment
• foreign income

(this list is not exhaustive)

Concerned this may apply to you, still need to register? Avanti (08000) 388 799 can help, and will be available to help you file online.on time.no fine right up to the deadline*

*subject to all applicable paperwork being received/ cut off point 2pm 31st January for new clients