One day left to file your paper self-assessment tax return – don’t risk £1,000 late fines
Miss the October 31 deadline and file your paper return after this date, and you'll be slammed with fines of up to £1,000
SELF-EMPLOYED people and families where one parent earns more than £50,000 a year have just one day left to file their tax return if they do it by paper.
Miss the October 31 deadline and file your paper return after this date, and you'll be slammed with fines of up to £1,000.
This is made up of a £100 fee if you file more than three months late, followed by an additional £10 a day up to a maximum of 90 days (£900).
But if you miss the paper deadline you can still file online by January 31, 2019 and you won't be charged - even if you registered to file by post.
Self-assessment tax returns typically need to be filed by self-employed people who've earned more than £1,000 in the tax year.
Families where one parent earns more than £50,000 and they claim child benefit also need to file tax returns.
As do people who earned more than £2,500 from renting out property or from tips or commission.
The October 31, 2018 and January 31, 2019 filing deadlines are for the the last tax year, which started on April 6, 2017 and ended on April 5, 2018.
Last year, around half a million people filed their tax return late, while a record 93 per cent completed their return online.
More on money
The deadline to register for self-assessment for the first-time has already passed - it was on October 5, 2018.
If you get emails from HMRC claiming you are owed a tax refund, make sure you double-check it's actually not a phishing scam before you give any details.
Recently a self-employed gardener was conned out of £10,000 in bank transfer scam by fraudsters impersonating HMRC.
We pay for your stories! Do you have a story for The Sun Online Money team? Email us at [email protected] or call 0207 78 24516. Don't forget to join the for the latest bargains and money-saving advice.