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Tax Returns 2016

If you file your tax return late, you will face a fine of at least £100 from HMRC.

How to submit your 2015-16 tax return

There are two ways to submit your tax return. You can either send a paper tax return to HMRC or fill in an online tax return online on the HMRC website.

Submitting your tax return online has various advantages – you can find out more about submitting online tax returns here.

If you need additional help with tax, or other aspects of accounting, you can contact a member of our team at Maze Accountants to get individual guidance. Telephone 020 8643 9633.

Different ways to submit your tax return

The deadline for submitting your Tax Return depends on how you choose to submit your tax return.

  • Paper Tax Returns need to be filed by 31st October 2016. Tax Returns in paper form relating to April 2015 to April 2016, should be submitted by 31st October 2016.
  • Online Tax Returns can be filed up to 3 months later – 31st  January 2017. Electronic filing of Tax Returns relating to April 2015 to April 2016 can be filed online up to 31st January 2017.

Important deadlines for your 2015-16 tax return

31st October 2016: – This is the deadline for filing a paper tax return, whether you choose to work out how much tax your owe yourself or want HMRC to do it. However, if you receive notice that you must file a tax return after 31 July 2016, you’ll need to send back the completed form within three months of the notice’s date of issue.

30th December 2016: – If you file your tax return online and also have earnings taxed under PAYE, you can opt to have overdue tax (if it is less than £2,000) collected by PAYE, provided you filed your online return by this date. The advantage of this is that any tax payable would be paid over 12 months from April 2016, rather than in a single lump sum by 31 January 2017.

31st January 2017: – This is the final deadline for online tax returns, unless the notice to make an online tax return is issued by HMRC after 31 October 2016, in which case you have three months from the date of issue. This is also the deadline to pay any tax due for paper Tax Returns and online submission of Tax Returns.

It’s important to be aware that filing your tax return late, or failing to pay the tax you owe on time, will mean you can face extra penalty fees and interest charges.

Maze Accountants, based in Banstead, help many local individuals and businesses with submitting their Tax Returns, so why not let us help you too! Contact Maze Accountants for further information on help with Tax Returns on 020 8643 9633.

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