Self Assessment Personal Tax returns due 31 January 2017

Don't miss the HMRC deadline or penalities will apply

 

Self assessment personal tax returns due by 31 January 2017

HM Revenue and Customs (HMRC) must receive your tax return and any money you owe by the deadline. The last tax year started on 6 April 2015 and ended on 5 April 2016. The deadline for paper self assessment tax returns has now passed (31 October 2016) and therefore all online tax returns must be submitted by midnight on 31 January 2017. You must also pay any tax you owe by midnight on 31 January 2017.

 

Earlier submission deadline if you'd like tax due paid through your PAYE tax code

You can pay your Self Assessment bill through your PAYE tax code as long as all these apply:

  • you owe less than £3,000 on your tax bill
  • you already pay tax through PAYE, eg you’re an employee or you get a company pension
  • you submitted your paper tax return by 31 October or your online tax return online by 30 December 2016

 

Penalities will apply if you miss the 31 January 2017 deadline

After 31 January 2017 automatic late filing penalties will apply. The minimum penalty you would pay is £100, but this will increase as follows:

  • 3 months late – a daily penalty of £10 per day up to 90 days, a maximum £900
  • 6 months late – 5% of tax due or £300 if greater
  • 12 months late – a further 5% of tax due or £300 if greater, unless tax payer is deemed to be withholding information in which case
  • 12 months late and taxpayer withholding information – between 70% or 100% of tax due, or £300 if greater.

Avoid penalties by submitting return and paying tax by the deadline 

Pay any tax due by 31 January 2017

Unfortunately, on the same date, 31 January 2017, you will need to settle any outstanding tax owed for 2015-16 and make a payment on account for 2016-17. Again, if you are late making these payments further penalties and interest will be charged.

 

Claiming a tax refund

One final point. It is, of course, entirely possible that you may have overpaid tax for 2015-16. If this is the case, the argument to file sooner rather than later is a no-brainer: why would you leave your cash in the Treasury’s coffers for longer than you need to?

According to HMRC you may be due a tax refund if you:

  • are employed and had too much tax taken from your pay
  • have stopped work
  • sent a tax return and paid too much tax
  • have paid too much tax on pension payments
  • bought a life annuity

Remember to submit your tax return by the deadline 31 January 2017You may also be able to reclaim tax:

  • if you have paid tax on savings interest and you are on a low income
  • if you live in one country and have income in another - how you do this depends on whether you’re a UK resident with foreign income or a non-resident with UK income

Certain sub-contractors in the building trade, who are self-employed but still have tax stopped from their wages, will also, in most cases, have overpaid tax.

 

We can complete and submit your tax return for you

Readers who are concerned they have overpaid tax should contact HMRC or we can help if this line of approach is proving to be problematic.

For more information, guidance and assistance with your personal tax return, contact the team at New Forest Tax Accountants, now based in Queen Street, Lymington. We can complete and submit your tax return on your behalf - but please do get in touch soon as the clock is ticking!

We are open as normal, Monday-Friday, over the Christmas and New Year holidays, except bank holidays.

NFTA square logo 250

 

Mini classic car show at Linden House Care Home Ly...
16 Aug 2017

Memories revived with mini classic car show at Linden House rescue from edinburgh for norma and special memories for chris Six vintage cars, dating back as far as 1925, were on display at Colten Care's specialist dementia care home in Lymington e [ ... ]

NEWS
BHG Marine celebrates 70 years
03 Aug 2017

BHG Marine celebrates 70th Birthday. This year Lymington’s BHG Marine celebrates 70 years as a family business in the marine industry. BHG Marine, now celebrating their 70th year in the Marine Industry, are specialists in the supply, sales and se [ ... ]

NEWS
Lost and Found in Lymington and the New Forest
02 Aug 2017

Lost and Found in Lymington and the New Forest Have you lost something precious or found an item that someone could be missing?  Email us on This email address is being protected from spambots. You need JavaScript enabled to view it. docum [ ... ]

NEWS
International Beer Day at the Montagu Arms, New Fo...
02 Aug 2017

Raise a glass to International Beer Day at the Montagu Arms. Sample local Ringwood ales in the heart of the New Forest.   Beer lovers around the world will gather in pubs, back gardens, breweries and bars to celebrate the glories of their fav [ ... ]

NEWS
Court Lodge short stay four weeks price of three
31 Jul 2017

FOUR WEEKS FOR THE PRICE OF THREE AT COURT LODGE IN LYMINGTON 
THAT’S A WHOLE WEEK OF FREE REST AND REJUVENATION Do you need a break from caring?  Or simply from having to look after yourself?   Does a holiday in a beautiful,  [ ... ]

NEWS
Turfcutters Arms August Beer Festival 2017
26 Jul 2017

Summer Beer Festival at the Turfcutters Arms - 18-20 August 2017   ALL WEEKEND ALES, CIDERS, BBQ & HOG ROAST, CHILDREN’S ENTERTAINMENT, LIVE MUSIC
The “best pub in the New Forest” – aka World Famous in East Boldre! -  invit [ ... ]

NEWS
Curious Arts Festival 2017 Curious Arts Festival Pylewell Park New Forest 201...
24 Jul 2017

CURIOUS ARTS FESTIVAL 2017 - bigger and brilliant despite the weather   Curiouser yet more familiar, now a fully established annual Lymington event    The fourth Curious Arts Festival held once again in the beautiful if this time s [ ... ]

NEWS
Feeling groovy as Colten Care home celebrates Sixt...
20 Jul 2017

Feeling groovy as Colten Care home celebrates Sixties style icon A fun day of reminiscence prompted memories and conversation about life in the 1960s  The sights and sounds of the 1960s were back in vogue as a Dorset nursing and residential ho [ ... ]

NEWS
What to do in a week on holiday in the southern Ne...
19 Jul 2017

What will you do on your New Forest holiday?  Here's a week's worth of suggestions! Planning your holiday week for visitors to the Lymington, Brockenhurst and Beaulieu areas (useful for locals too...)    Written by the owners of B [ ... ]

NEWS
Major works at London Waterloo 5-28 August
19 Jul 2017

Major works at London Waterloo from 5th to 28th August Plan your train journey from Lymington, Brockenhurst and other New Forest stations   From 5 to 28 August platforms 1-10 at London Waterloo, the UK’s busiest station, will be closed so w [ ... ]

NEWS
What's on in and around Lymington over the summer ...
17 Jul 2017

What’s on in Lymington and the New Forest over the summer holidays. Ideas of things to do for children and families, whether local or visiting Lymington and the New Forest. updated 17 July 2017 Last week we published our Summer Events in Lymingt [ ... ]

NEWS
Lymington's 2017 Carnival
17 Jul 2017

Lymington Carnival 2017 was a glorious day! Thanks to everyone who participated and all those who supported the procession and the fete.   Congratulations to everybody that took part in the Carnival Procession - a fantastic effort made by [ ... ]

NEWS
Quiz boosts Lymington dementia action
14 Jul 2017

Quiz boosts Lymington dementia action Caring brains thanked for raising funds for Lymington Dementia Action Group Team members from five New Forest care homes went into battle for a ‘fiercely competitive but fun’ quiz in aid of the Lymington De [ ... ]

NEWS
Summer events in the Lymington and New Forest area
13 Jul 2017

Summer events in the Lymington and New Forest area Whether you're interested in music, art, film, food, cars or the countryside, there's something for everyone  Holidaying in the Lymington and New Forest area this summer? Or local and planning [ ... ]

NEWS
Lymington's Summer Carnival will be Supercalifragi...
13 Jul 2017

Lymington's Summer Carnival will be Supercalifragilistic-expialidocious! Headline sponsor, Colten Care, prepares to step in time at Lymington's musical-themed Carnival   Spit spot! It’s time to dress up and enjoy the magic of this week [ ... ]

NEWS
Tick bites in the New Forest
11 Jul 2017

Tick bites in the New Forest. Keep watch for ticks on you and your pets during late spring, summer and autumn.    Lyme Disease, also called Lyme borreliosis, is an illness caused by the bacteria Borrelia burgdorferi, which live in the gu [ ... ]

NEWS
Help Lymington care homes knit their way into the ...
10 Jul 2017

Help Lymington care homes knit their way into the record book! Colten Care are attempting to knit the world's largest tea cosy and need your help Sew cosy! Colten Care are attempting to knit the world's largest tea cosy and are already a third of  [ ... ]

NEWS
Lymington dentist receives national honour
08 Jul 2017

Community-minded Lymington Dentist receives national honour. British Citizen Award given to Dr Donald Mackenzie for services to the community
A generous Hampshire dentist who has devoted more than three decades to his local community has been recog [ ... ]

NEWS
Go to top