UK taxpayers who
have yet to file their 2013-14 return must do so online, or face a GBP100
(USD160) penalty, HM Revenue and Customs (HMRC) has warned.
deadline for 2013-14 tax returns was October 31, 2014. Even if an individual
has no tax to pay, or they pay their tax on time, filing a late paper return
will still result in the GBP100 penalty.
Taxpayers must be
registered with HMRC's Online Services to complete an online tax return. This
involves HMRC sending an Activation Code in the post. Online returns must be
submitted by January 31, 2015.
Taxpayers can file
now and pay later. They must pay any tax owed by January 31, 2015.
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.
MINIMUM REQUIREMENTS TO REGISTER
The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.