Saturday 29 January 2011

Tax event due January 31


The following Tax Events are due on 31 January 2011:
Deadline for submitting 2009/10 self assessment return (up to £100 penalty if your return is late).Balance of 2009/10 tax due, plus first payment on account for 2010/11
What this means for you?
This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Class 4 NI and any capital gains tax liabilities. There is a penalty of up to £100 if your return is not submitted on time.
The balance of any outstanding income tax, class 4 NI and capital gains tax for the year ended 5th April 2010 is due for payment by 31st January 2011. Where the payment is made late interest will be charged.
The first payment on account in respect of income tax and any class 4 NI is also due for payment by 31st January 2011.

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