In the last, few weeks we at Moore Hill Accountants of Warrington have been received a number of calls from people struggling to file their self-assessment tax return (SA100) before the deadline for a number of reasons. In this article, we have tried to provide the basic answers to the most common issues that we have encountered in an attempt to smooth the process of filing yearend tax returns.

Every year we encounter people that have not registered for self-assessment. If you are going to do this on your own and submit on line you will need to register and obtain an activation PIN. Once registered this will be delivered by post and will take 7 days to arrive. So if you are intending to submit your return electronically you must register before the 23rd January. If you have missed this deadline keep reading this article to learn how avoid a fine for non-submission.

If you have no Unique Tax Reference number (UTR) or no self-assessment tax return follow these steps basic steps:

• Register with HM Revenue & Customs (HMRC) - If you are self employed you can do this with form CWF1. If you are one of the people that are required to complete a self-assessment tax return you should complete form SA1.
  
• If you can’t submit your completed Self assessment tax return before the 31st January, but tax is due, you should send your payment along with Form SA361 to HMRC. Write on the top of the form “new taxpayer” in bold capitals and post it to arrive before 31st January. This can only be done by post.
  

If you haven’t the time to compile the required information to complete the return you can file a provisional return using estimates of the required values. Ensure that you tick the box on the self-assessment tax return indicating that you have used estimates as opposed to actual figures; otherwise you should not sign the return.

Once you have the necessary information you can correct the return. There will be no tax penalties as long as you have paid all the tax due by the required date. If you discover, when you complete your return using actual figures that you have understated your tax liability it may difficult to prove that the error was not as a result of carelessness. As you are submitting you r correction later HMRC are entitled to extend the window of time in which they can make enquiries into your return.

If you have genuine reasons for filing your return late and notify HMRC before the 23 January, you may be able to avoid the issue of an automatic penalty notice.

Should you require further assistance please contact us on 01925 830830.