Don’t forget to file your self-assessment tax return before 31st January 2017

You have until 11.59pm on Tuesday 31 January to send your completed self-assessment tax return online for the 15/16 tax year which ended on 5th April 2016. If you miss the deadline you may be fined £100 and the penalty will apply regardless of whether you’re due a refund or you owe no tax.

HMRC has warned that it could take up to 10 days to send you an activation code for your online registration to HMRC Government Gateway, so do this immediately if you have signed up before.

Do I have to fill in a self-assessment return? 
This form of self-assessment is normally for people who are self employed, although you will find several other cases where you might need to finish an on-line return (these are recorded below).

Should you have been sent a self-assessment form, or received notification that you need to fill one in, you will must file an online return by 31 January. But, when you haven’t received a form, there are some particular conditions that mean you could need to file a return.

In case your employer deducts your tax, you typically do not need to submit a form unless you get added income from freelance work or a second job, or have been caught up in the changes to child benefit.

If HMRC has requested you to complete a tax return but you don’t believe you need to, tell it as soon as possible. You’re going to have to cover a fee in the event that you merely do not send one.

You should get in touch with HMRC as it is likely you will need to file a return, if you fall into one of the following types:

You’ll need to send a tax return if, in the last tax year:

  • you were self-employed – you can deduct allowable expenses
  • you got £2,500 or more in untaxed income, for example from renting out a property or savings and investments – contact the helpline if it was less than £2,500
  • your savings or investment income was £10,000 or more before tax
  • you made profits from selling things like shares, a second home or other chargeable assets and need to pay Capital Gains Tax
  • you were a company director – unless it was for a non-profit organisation (such as a charity) and you didn’t get any pay or benefits, like a company car
  • your income (or your partner’s) was over £50,000 and one of you claimed Child Benefit
  • you had income from abroad that you needed to pay tax on
  • you lived abroad and had a UK income
  • you got dividends from shares and you’re a higher or additional rate taxpayer – but if you don’t need to send a return for any other reason, contact the helpline instead
  • your income was over £100,000
  • you were a trustee of a trust or registered pension scheme
  • you had a P800 from HMRC saying you didn’t pay enough tax last year – and you didn’t pay what you owe through your tax code or with a voluntary payment

Filing by paper – deadline reached
The deadline for filing paper returns was 31 October 2016, you should as a result file your return online to avoid a fee.

How to fill in return online?
If this is your first time filing a return then you’ll need to enroll to get a login – see the HMRC web site to register. It’s vital you do this ASAP as it could take up to 10 days for you to receive the activation code you need – HMRC has said codes are being posted first class to speed up the method, but it is always better to be safe than sorry, so enroll now.

You should have a login that you simply will have the ability to use again this year, in the event you’ve filed a return previously.

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