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Self-Assessment – Missed the 31st October Deadline?

self assessment tax return

Missing the deadline for self assessment can be a majorly stressful experience, in many cases. However, this shouldn’t have to be the case. And, if you’ve missed the 31st of October deadline, there are still some options available to you. In line with this, today, we’re looking at some of the different options you could consider to help.

self assessment tax return
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I’ve Missed the 31st of October Self Assessment Deadline. What Now?

If you’ve missed the 31st of October self assessment tax return deadline, don’t fret. This isn’t your only chance to complete a self assessment.

Specifically, the 31st of October self assessment tax return deadline is for paper tax returns. However, you can still complete a digital return until the end of January. As such, if you’ve missed the October deadline, you can still submit your return digitally for a few months.

What if I Still Want to Complete a Paper Tax Return?

If you still want to complete a paper tax return rather than submitting digitally, you may end up having to pay a fine. However, there are a series of special cases and exceptions for partnerships, trusts, and estates.

This doesn’t necessarily mean you won’t still be liable for a penalty. However, it may be worth checking the list of exceptions and special cases to see whether appealing the penalty might be possible.

How Do I Complete a Digital Tax Return?

If you’d rather avoid a penalty entirely, completing a digital self assessment may be the easiest approach. This is actually very simple to do; log onto the self assessment portal to begin completing your digital return. If you haven’t done so before, you may need to apply for credentials. These can take around a week to come through; be sure to allow enough time before doing the digital return to account for this.

What is the Penalty for Late Filing?

The initial penalty for late submission is £100. However, this will then increase after the return is three months late. Thus, paying the penalty (or making other arrangements) as soon as possible is important.

Get Further Support for your Tax Returns

If you’ve missed the 31st of October self assessment tax return deadline, don’t panic. This isn’t the only chance to get your tax return in. Fortunately, our friendly local experts will be here to help out. So, if you need more support with your self assessment tax return, contact us here at LiderTax. We’d be thrilled to offer friendly support for your specific case.