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Paper tax return deadlines looming
4:00pm Sunday 22nd September 2013 in News
TAXPAYERS who want to submit paper tax returns for the year ended April 5, 2013, have until October 31, 2013, to do so.
In addition, if tax returns are submitted before that time, HMRC will be able to calculate the tax due.
After that date, tax returns can only be submitted on-line and individuals will have to calculate their own tax.
In any event, tax returns for 2012-13 must be submitted by January 31, 2014.
Even if no tax is due, a penalty will arise if a form is due, but is not submitted on time.
If you have not been sent a notice to complete a tax return for 2012-13 by HMRC, but think your personal circumstances mean a form may be required, you need to inform HMRC by October 5, 2013, to avoid penalties.
Circumstances which may indicate a tax return is required include:
Large amounts of property or investment income.
Capital gains for the year in excess of the annual allowance (£10,600 for 2012-13).
Various different sources of employment/pension income.
Income in excess of £100,000.
Income in excess of £50,000 and continuing to receive child benefit.