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Where Taxpayers and Advisers Meet

Quick question on self assessment

JimmyCarter01
Posts: 1
Joined: Thu Sep 06, 2018 8:43 pm

Quick question on self assessment

Postby JimmyCarter01 » Thu Sep 06, 2018 8:45 pm

Sorry for the stupid question but if I file for self assessment and I don't actually owe any tax and I don't fill in a return, will I get a penalty?

pawncob
Posts: 4166
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: Quick question on self assessment

Postby pawncob » Fri Sep 07, 2018 12:01 pm

Have HMRC asked you to complete a return?


If you have not been asked to fill in a tax return there can be no late filing penalties. The earliest due date for a tax return is 2 months after you have been asked to complete one.

If you have no more tax to pay, you have no further obligation. If you do have tax to pay there may be a penalty for failure to notify. That will be based on the amount of tax you owe.
With a pinch of salt take what I say, but don't exceed your RDA

AGoodman
Posts: 567
Joined: Fri May 16, 2014 3:47 pm

Re: Quick question on self assessment

Postby AGoodman » Fri Sep 21, 2018 1:30 pm

But the corollary applies: if you are asked to file a tax return and you fail to do so, there can be penalties irrespective of whether you had any tax to pay.


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