The UK tax authority, HM Revenue and Customs issued a reminder to self assessment taxpayers on Thursday that they have limited time left to file their tax returns for the tax year 2007/8, or face the prospect of being issued with an automatic fine.
Those who haven't yet filed their 2007/08 tax return must send it to HMRC online by the January 31 deadline. Any paper returns received by the tax department could be met with a GBP100 penalty, as the new October 31 paper-filing deadline has now passed.
The number of online returns received by HMRC hit 3 million this week – a 39% increase on this time last year – and they now outnumber paper returns for the first time ever. This includes 620 people who filed their tax return online on Christmas Day.
January 31 is also the deadline for paying tax owed for the 2007/08 tax year.
HMRC's Stephen Banyard said: "If you haven't filed your return yet, don't worry – there is still time. But you will need to make sure you have registered by January 21, to allow enough time for you to receive your activation code and file online."
In January and February, HMRC will be writing to individuals with their new tax codes for the 2009/2010 tax year. However, the Revenue said that taxpayers only need to take action if they think their tax code is incorrect.
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