Everyone should note that the deadline for having paper based tax returns submitted to HMRC has now passed (31 October 2008). If you want to file by internet and you can still procrastinate until 31 January 2009. However, given HMRC's systems problems this January, leaving it until the last minute is not to be recommended.

If you have not received a tax return (or a reminder to file online), that does not mean you have nothing to do. If you had a new source of income or realised capital gains above the £9,200 annual exemption in 2007/08, you must tell HMRC.

ACTION
Don't ignore your tax responsibilities. One sure way to increase your chances of becoming an ideal HMRC ‘customer' is to miss a filing date.

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This news item is provided strictly for general consideration only and is based on our understanding of law and HM Revenue & Customs practice as at July 2008. No action must be taken or refrained from based on its contents alone. Accordingly no responsibility can be assumed for any loss occasioned in connection with the content hereof and any such action or inaction. Professional advice is necessary for every case.

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