Self assessment tax return form SA100; is the latest

UK residents must file a tax return

  • If any of the following apply:
  • HM Revenue & Customs request.
  • Property rentals, including loss making or break-even property rentals up to tax year 2015/16.
  • Property rentals, 2016/17 onwards profits in excess of the Micro entrepreneurs allowance £.
  • Self employed sole trader income, including loss making or break-even commercial activities up to tax year 2015/16.
  • Self employed sole trader 2016/17 onwards profits in excess of the Micro entrepreneurs allowance £.
  • Partnership - if you are in a business partnership.
  • Overseas; offshore; income arising abroad including interest on bank accounts.
  • Capital gains realized from sales; including capital gains abroad.
  • Capital losses - you need to make a claim of Capital losses to have them available for setoff against future capital gains.
  • Director of a company
  • unless both:
  • charitable company and
  • you derive no income.
  • Annual income will exceed £100,000 in total.
  • Trust or settlement income.

You may need to file a tax return

  • If either of the following apply:
  • Bankruptcy or Individual Voluntary Arrangement IVA: for the year in which you were declared bankrupt or entered into a voluntary arrangement IVA.
  • Receiving Child Benefit if you or your partner's annual income is more than 50,000.

New high penalties apply even to nil returns

  • Late filing penalties £100 to £1,600.
  • In addition where tax is payable.
  • Plus tax geared penalties up to or more than 100% of tax.
  • Plus late payment penalties up to 15% of tax.

You need to check NOW with HMRC if you are not sure.

Self assessment
Much higher late filing penalties apply year ended 5th April 2011; 2010/11 onwards even to nil returns; late submission

  • Higher penalties
  • Higher penalties have applied to tax returns from 2010/11 onwards.
  • Penalties apply even when no tax is payable.
  • Tax year 2017/18
  • Even if you are getting a tax refund; penalty deducted from the refund.
  • After 31st January £100;
  • 30th April to 29th July a further £10 daily charge; £900 maximum.
  • After 31st July a further £300 or 5% of the tax due, whichever is the higher.
  • Minimum cumulative penalty after 31st July £1,300.
  • After 31st January a further £300 or between 5% and100% of the tax due.
  • Minimum cumulative penalty after 31st January £1,600.
  • For the previous minimum cumulative penalty after 31st January £1,600.
  • You need to file late returns online;
  • Penalties for paper returns are 3 months earlier:
  • 31st October £100, 31st January + £10 daily up to £900, 30th April + higher of £300 or 5% of tax, 31st October + higher of £300 or 5% of tax.
  • Minimum cumulative penalty after 31st October £1,600.
  • Late tax payment penalties are the same as for online filing.
  • Interest is added to both tax and penalties from the normal due payment date.
  • Check NOW
  • If you have been asked to file a tax return you need to comply to avoid penalties.
  • Notices could have been sent to a previous address.
  • If you are unsure you need to check NOW with HMRC.
  • If you have not been asked but anyway need to file a tax return talk to us.
  • Partnership tax return
  • All the above penalties apply separately and additionally to the partnership tax return.
  • Total partnership penalties are attributed to, and payable by, the "representative partner or their successor".
  • Failing which, every "relevant partner" is liable.
  • Loophole closed
  • The previous loophole avoiding the £100 penalty by filing on 1st February has been written out of revised legislation.

Paying self assessment
You need to pay any Self Assessment tax due on 31st January and 31st July. Daily interest is charged after the personal tax scheduled payment dates. Any interest paid may be an allowable expense in your self employed sole trader or partnership accounts but penalties are not allowable.

If you need time to pay see Time to pay tax.

There will be a 5% penalty on personal tax paid later than . Tax should be paid even if you do not receive a statement or even if the return has not been filed. Interest will be charged on all personal tax and penalties, due under Self Assessment, paid later than normal due dates.

Self Assessment Personal tax late payment penalties extended tax year 2010/11 onwards
Also applicable to late payment of Student Loan repayments when these are calculated and paid through self assessment

  • Extension of penalties:
  • Tax for paid later than February 5% of tax.
  • Tax for paid after 31st July another 5% of tax.
  • Tax for paid after 31st January another 5% of tax.
  • Total 15% of tax.

Please contact us about your Self assessment tax return form SA100