Up to now you have only been liable to pay a penalty for late self assessment return if you had tax to pay for the tax year concerned. The rules have now changed so that if you are late in submitting your return regardless of whether you have tax to pay or not or indeed due a refund from HM Revenue & Customs. You will be charged a penalty of £ 100. The penalties increase the later you are, so if your return was a year late you would pay a minimum of £ 1,600. The deadline for returns for the year ended 5th April 2011 are 31st October 2011 for paper returns and 31st January 2012 for returns submitted on line.

If you need a quote to complete your Self Assessment returns, contact Andrew or Sarah at Phillips Associates