Tax can be taxing - filing your tax return

By Meera Patel | 26 Sep, 2008 

It’s that time of year again when many individuals will be filing their tax return for the tax year 6 April 2007 to 5 April 2008. There has however been a change to the deadlines.

Those who calculated their own tax liability had until 31 January to do so if they were sending in paper based returns. The government has brought this date forward to 31 October for those who wish to submit paper based tax returns. HM Revenue and Customs says it will calculate the tax liability for all individuals who submit their returns by this date.

If, however, you file your tax return online you still have until 31 January. In other words HM Revenue and Customs is trying to encourage more individuals to file their returns online. If your tax return reaches HM Revenue and Customs after 31 January, you will face an automatic £100 penalty.

If you are not sure whether or not you need to fill in a self assessment form you can check by visiting the HMRC website http://www.hmrc.gov.uk/sa/index.htm

If you are a client of Hargreaves Lansdown you should by now have received the relevant paperwork to enable you to fill in your tax return (where applicable). This would have been sent in the last statement and valuation dated 30 April 2008. If you are registered to view your account online you will be able to download these forms by logging in to your account.

If you are not registered online our helpdesk should be able to assist you with queries regarding your statement and valuations. Please call on 0117 900 9000.