Registration can take up to seven working days to complete, as the final step involves HMRC sending an activation code in the post.
Registering can be done via http://www.hmrc.gov.uk/signup.
January 31 is also the deadline for paying any tax owed for 2012/13. Taxpayers who owe less than £3,000, and want HMRC to collect the tax they owe through next yearís tax code, need to submit their online return by midnight on December 30.
The penalties for late Self Assessment returns are:
- an initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time;
- after three months, additional daily penalties of £10 per day, up to a maximum of £900;
- after six months, a further penalty of five per cent of the tax due or £300, whichever is greater; and
- after 12 months, another five per cent or £300 charge, whichever is greater.
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Susie Hughes © Shout99 2013