Fail to file your tax return and pay it by midnight on 31 January and you'll be hit with a £100 fine immediately. These fines start to rack up, with interest added to the amount you owe. Needless to say, acting sooner rather than later will make a big difference.
What's more, unfiled, late or incorrect tax returns can increase the likelihood of being investigated by HMRC. Doing everything you can to meet this month's deadline and submit an accurate tax return is vital.
HMRC's Time to Pay facility can spread the cost of any outstanding bill into manageable monthly instalments. A £100 fixed penalty still applies if the return is late.
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