Landlords – Don’t Miss The Deadline For Your 2013 Online Tax Return

The deadline for submitting your tax return online for the tax year ending 2013 is the 31st of January 2014.

If you have already submitted your tax return – in paper format or online – all is well. However, failure to meet this deadline will generate an automatic £100 penalty from HMRC. 

Please note that any tax due for that year also needs to be fully paid by that date. If you receive an income from renting one or several properties in the UK, whether you live overseas or in the UK, you should declare it through Self Assessment.

Regardless if your tax liability ends up being nil, HMRC still expect that you submit a tax return. If you live overseas and are registered under the Non-Resident Landlord (NRL) scheme, the deadline still applies. Remember the longer you put it off, the heavier HMRC’s penalties will become. These penalties stand as follows (source taken from HMRC’s website):

  • Missing the 31st January deadline (even by one day!): £100
  • 3 months late: £10 per day, up to a maximum of 90 days = £900. This is as well as the fixed penalty above
  • 5 months late: £300 or 5% of the tax due, whichever is the higher. This is as well as the fixed penalties above
  • 12 months late: £300 or 5% of the tax due, whichever is the higher.

In serious cases, you may be asked to pay up to 100% of the tax due instead. In some cases, the penalties can be higher than this. This is as well as the fixed penalties above

What we charge

– Landlords not registered under the NRL scheme: £150 + VAT (if VAT applies to your country of residence). If your partner needs to fill in a tax return too (in case a property is in joint names) and if the tax details are identical to yours, we will only charge an additional £50 + VAT
– If you are registered under the NRL scheme (you would automatically know if you are): 14% of the value of your tax refund, subject to a minimum fee of £150 + VAT (and an additional £50 + VAT for your partner, subject to a minimum fee of £150 + VAT)

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