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Wednesday 16th January 2008
Business owners, the self-employed, landlords and anyone with "more complicated tax affairs" must ensure they meet the impending deadline for Self Assessment Tax Returns or face fines, a spokesperson from HMRC has said.
Self Assessment Tax Returns are due on January 31st, with more than nine million having been sent out to those deemed most likely to require them by the HMRC as of April last year.
However, according to the spokesperson Britons with new sources of untaxed income should make contact with the HMRC as soon as possible or face a fine.
She explained: "The January 31st [deadline] applies to returns that were issued last April, so that's the bulk of them. [But] if they've got an new source of income that they've not told us about then the January 31st date [may not] apply to them, because they'll have to go through the process of registering with us.
"If you've got a new business and you haven't told us about it within three months then a separate £100 penalty could apply, because you haven't followed the registration process."
Last year one in ten of Self Assessment Tax Return forms were unreturned, HMRC figures showed.
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