Start Preparing Now - the longer the delay, the more you pay! 

If people are even one day late in filing their paper self-assessment tax form they will be hit with an instant £100 fine. After another three months an additional fine of £10 a day is added for each day overdue, up to a maximum of £900.

Tougher fines are added if passing the six month or one year mark; the larger of £300 or five per cent of the tax due. From the 31 January 2012 the same will apply for people who file their form online. So a return due by the end of January 2012 but not filed until 5 August 2012 would attract £1,300 or higher in fines.

Our Online Accounting application allows you to monitor all your filing deadlines. For more information or for a free demonstration please call us on 0800 731 5368.