Completing a Self Assessment Tax Return for 2011? What You Should Know


Do you have to submit your own Self Assessment Tax Return for 2011?

If you’re self assessing for the first time or if you’re newly self employed, completing your tax return may seem like a daunting task.   And, the deadline for sending your return to HM Revenue and Customs (HMRC) is getting ever nearer.

So, if you have to send in your self assessment tax return for 2011, keep reading for four vital things that you should know.

If you missed the 31st October 2011 deadline you now have to submit online

There are two ways to submit your Self Assessment tax return.  You can either complete a paper based form or submit your tax return online.

However, the deadline for paper based tax returns is 31st October following the end of the tax year.  So, the deadline for sending in a paper tax return for the 2011/12 tax year was 31st October 2011.

The deadline for submitting your Self Assessment Tax Return 2011 is 31st January 2012

If you have missed the deadline for sending in a paper tax return then you have to complete your tax return online.  You get extra time to submit your Self Assessment via the web and so you have until 31st January 2012 to submit your 2010/11 tax return using the internet.

In order to send your tax return online you will have to register for this service.  This is a two stage process where you register for online government services and then activate your account when you receive your Activation Code from the Government Gateway.

In order to register to send your Self Assessment tax return 2011 online, you will need your Unique Taxpayer Reference (UTR) number and your National Insurance number.

The penalties for missing the tax return deadline are significant

If you fail to submit your 2010/11 tax return before the deadline of 31st January 2012 then you will face a penalty from HMRC.

If you are even a day late in submitting your 2011 Self Assessment Tax Return then you will face a fixed penalty of £100.  If your tax return is up to three months late then you will pay a penalty of £10 for each day that it is late (up to a maximum of £900) in addition to the £100 fixed penalty.

And, if your tax return is even later then the penalties you will face will increase.

Your deadline for paying any tax owed in 2010/11 is 31st January 2012

As well as submitting your tax return by the deadline, you must also pay any tax that you owe by the 31st January following the end of the tax year.

So, any tax you owe as a result of your 2010/11 self assessment tax return must be paid by 31st January 2012.  This is the case whether you submitted a paper or online tax return.

You will have to pay any tax you owe for the previous tax year plus the first of two ‘payments on account’ which go towards your next tax bill.


7 comments

  1. Jonathan says:

    Hello,

    I am in full-time employment and pay tax through my employer on my salary, bonus and stock awards that have vested. I’ve been asked to submit a SA – not really sure why as all taxes have been paid at source.

    Guessing I just have to get stuck in and get it done? Btw, they only sent the letter last week, so missed the October deadline for paper submission.

  2. Wendy says:

    I registered as self employed in March this year and just recieved a letter asking for a Self Assessment tax return, is this normal?

  3. Mark P says:

    We started a new business April 2011 and have now been forced to stop trading due to unsafe building.
    We haven’t had any notification from HMRC about submitting self assessment form.
    Do we need to do this?
    If so have we missed the deadline?
    Can we get an extension if we need to do it?
    Many thanks

  4. l smithe says:

    claiming laundry expenses back on self assessment tax form on employment page

  5. Laura says:

    I left the UK April 28th 2010 to work in the Middle East. I am now returning to the UK end of December 2011 and will have to fill out a self assessment form. Will I have to pay tax on my earnings from 2010-2011 when I return to the UK?

  6. Tax Fix says:

    Karl – thanks for your question.

    HMRC will normally let you know if you have to send in a tax return. However, if your circumstances have changed or you do think you should be self assessing, contact HMRC as soon as possible to query this.

  7. Karl H says:

    I think I should have to send in a Self Assessment tax return but I’ve never been asked to by HMRC. What should I do?

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