Self Assessment Tax Return Guide 2018 – 2019

Self Assessment Tax Return 2018 - 2019

If you need assistance with filing your tax return for 2018 – 2019, read the following guide. You can contact HMRC by calling the number above if you want to speak to a person regarding self-assessment tax returns.

Self Assessment Tax Return Deadline

The deadline for filing your self-assessment tax return and for paying your taxes due for the tax year from 6th April 2018 to 5th April 2019 is midnight on 31st January 2020. This applies for online tax returns only, as the deadline for postal tax returns on paper has already passed in late 2019. If you do not submit your tax return or pay your tax bill in time by this deadline, then HMRC could charge you a fine as a financial penalty.

Self Assessment Tax Return Fines

HMRC will not accept excuses such as disorganisation for submitting a tax return late or failing to pay. If you miss the deadline, then HMRC can apply additional charges. There is a fixed penalty of £100 for missing the deadline, even if you submit your tax return just one day late. If you fail to pay your tax return bill by the deadline, HMRC will charge interest at a rate of 3.25% from that date. There could be further charges if you fail to pay for 30 days to 1 year after the deadline, ranging from 5% to 15%.

How to File Your Self Assessment Tax Return Online

You can only submit your self-assessment tax return online if you have already registered. Taxpayers must register online in order to receive a unique taxpayer reference and an activation code to access your online account. HMRC will send this information to you by post, which can take 10 working days. This is why it is vital to register well in advance of the 31st January deadline. You can learn how to get a UTR or how to find a UTR in this guide if you have lost your UTR. Before you can complete your tax return, you will need to get your paperwork in order, including records of expenses and information on any income. Then you should fill out your tax return in stages to avoid making any mistakes. Check that you have actually submitted it and received an acknowledgement.

How to Pay Your Self Assessment Tax Return Bill

The deadline applies to not only submitting your tax return online but actually paying off your tax bill as well. Most people will have to do this by paying a lump sum to HMRC before midnight on 31st January 2020. You cannot pay HMRC online using a credit card, so you should be aware of transaction times for the available payment methods, which include:

  • Online or telephone banking (same day or next day)
  • CHAPS (same day or next day)
  • Debit card online (same day or next day)
  • At the bank or building society (same day or next day)
  • BACS (3 working days)
  • Direct debit already set up with HMRC (3 working days)
  • Cheque via post (3 working days)
  • New direct debit set up with HMRC (5 working days)

You can no longer pay your self-assessment tax bill at the Post Office. If you can’t afford to pay your tax bill in a lump sum, you have to contact HMRC as soon as possible to discuss alternative payment arrangements. You must be able to prove that you are unable to raise the funds to pay your tax bill on time. Don’t leave this to the last minute before it is due.

How to Avoid Self Assessment Tax Refund Scams

Fraudsters are often most active around tax deadlines, as they know that taxpayers will be hoping for a tax refund from HMRC. However, it is rare for HMRC to contact any taxpayer via electronic message regarding tax rebates. This includes e-mails, texts, or social media. HMRC usually only contacts taxpayers via letters in the post. Phone calls or in-person visits claiming to assist you with claiming a tax refund will be scams. Never give out your sensitive personal information, open links, or download attachments, especially if someone claiming to be HMRC is pressuring you with threats of legal action against you. Forward suspicious e-mails or text messages to HMRC at phishing@hmrc.gsi.gov.uk or 60599 and then delete them. You can also contact Action Fraud about HMRC scams.