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Tax Return 2013-2014 Deadline 31 January 2015

Created at
Taxcare Accountancy

Who needs to submit the Tax Returns?

 If you have one or more of the following, then you must submit your tax returns

  • You’re self-employed.
  • You are a partner in a business Partnership
  • You are a company director
  • Your annual income more than £100,000 or more
  • You have income from property
  • You have income from savings or investment that has been taxed and is £2,500 or more (Bank account interest is usually taxes automatically)
  • You need to claim expenses or reliefs
  • You or your partner receive child benefit and income is over £50,000
  • You get income from oversees
  • You have income from trusts, settlement or estates
  • You have capital gain tax to pay
  • You have lived or work abroad or don’t live in the UK permanently
  • You are trustee


The longer you delay the more you pay. So what could your looking at if you file too late? Here is simple breakdown:

1 Day late        – £100 fine

3 Months late – The £100 above plus £10 for each further day they you are late, that’s up to potential £900 in fine.

6 Months late  – All of these palatines above plus £300 or 5% of tax due (whichever is higher)

12 Months late            – All penalties above plus £300 or 5% of tax due