Self Assessment Fines Hiked Massively

Published / Last Updated on 09/01/2004

This is our first warning for those of you needing to get your Self Assessment Returns in by the 31st January 2004. Ignore this message at your peril this year!  Every year we write articles about the Self Assessment deadlines but this year is very different.  The Inland Revenue has obviously decided that the current late filing fee of £100 is just not making people submit their returns on time. So, from this year forward you will be charged £60 for EVERY DAY your Self Assessment return remains outstanding after the 31st January 2004.  In simple terms, the fines will be £420 per week! Last year, 900,000 people missed the deadline, leaving the Government with £90m. If 900,000 miss this year's deadline for just a week the Government will net £54m! These new fines pose the question as to whether the TV campaign is there to remind you to return your forms or make the Government money!

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