31 Jan 2014
According to recent press reports, HM Revenue & Customs (HMRC) has extended the submission deadline for self assessment tax returns by two weeks.
The extension will only apply to those taxpayers who signed up for the online self assessment service between midnight on 21 January and midnight on 31 January, or individuals who have requested a replacement ID or password.
Those eligible for the extension will have until 15 February to submit their tax return, without incurring the £100 late filing penalty. However a spokesperson for HMRC pointed out yesterday that ‘the tax is still due by midnight tomorrow [31 January] so it doesn’t get you out of paying the tax.’
The Association of Chartered Certified Accountants (ACCA) called for the deadline to be extended earlier this week, as it is estimated that approximately 1.5 million people still have tax returns outstanding.
Changes to child benefit and an increase in self employment levels mean that more people are now required to fill out a self assessment tax return, including many who are doing it for the first time.
Chas Roy-Chowdhury, head of taxation at the ACCA, commented that he thought HMRC’s move was ‘pragmatic and realistic’.