The self assessment tax deadline is fast approaching, with returns for the period covering 6th April 2022- 5th April 2023 due for filing by 31st January 2024.

Although it seems a long way off, the deadline will be here before you know it. Is your tax return already filed? Have you sent your tax return information in? Do you even know if you need to file a tax return?

Here at Lambert Chapman LLP, we are here to help you so you can do what you do best – run your business. Please speak to us as soon as you can so we can guide you and avoid any unnecessary fines and worry.

HMRC processed more than 11.7 million tax returns before the 31 January 2023 deadline. However, 600,000 still missed the deadline!

Although HMRC have strict reporting dates and guidelines, they do allow some certain circumstances for late filing of a self assessment return. 

Over the years HMRC have published some of the excuses used. Unsurprisingly these were not accepted. Below are some of my personal favourites and some I should have tried with my teachers when I was at school!

  • I had a run in with a cow
  • After seeing a volcanic explosion on tv I could not concentrate on anything else
  • My boiler broke and my fingers were too cold to type
  • My husband told me the deadline was 31st March
  • My laptop broke and so did the washing machine
  • I’ve been kidnapped by pirates
  • I had a cold that took a long while to go
  • My wife was seeing aliens and would not let me in the house
  • My business does not really do anything
  • My pet goldfish died
  • The dog ate the tax return along with all the reminders
  • I had an argument with my wife and moved to Italy for 5 years
  • I left my tax return upstairs and suffer vertigo so was unable to retrieve it.

As you can see – people really will try any excuse possible. All however to no avail and filing penalties were issued.

With the late filing penalty starting at £100 and interest being charged on overdue tax, is it really worth filing your return late?

Please speak to your contact at Lambert Chapman or speak to the tax team who will be more than willing to help. 

The views expressed in this article are the personal views of the Author and other professionals may express different views. They may not be the views of Lambert Chapman LLP. The material in the article cannot and should not be considered as exhaustive. Professional advice should be sought in connection with any of the issues contained in the article and the implementation of any actions.

Lambert Chapman Chartered Accountants

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