The 2015-16 tax return deadline for taxpayers who continue to submit paper Self Assessment returns is 31 October 2016. Late submission of a Self Assessment return will become liable to a £100 late filing penalty. The penalty will apply even if there is no liability or if any tax due is paid in full by 31 January 2017.

We would recommend that anyone still submitting paper tax returns consider the benefits of submitting the returns electronically. In this way they will benefit from an additional three months (until 31 January 2017) in which to file their return.

Taxpayers with certain underpayments in the 2015-16 tax year can elect to have this amount collected via their tax code (in 2017-18), provided they are in employment or in receipt of a UK-based pension. The coding adjustment applies to certain debts and the amount of debt that can be coded out ranges from £3,000 to £17,000 based on a graduated scale. The maximum coding out allowance only applies to taxpayers with earnings exceeding £90,000.

Daily penalties of £10 per day will apply if the tax return is still outstanding three months after the filing date up to a maximum of £900. If the return still remains outstanding further higher penalties will be charged from six months and twelve months.

Taxpayers that received a letter informing them that they have to submit a paper return after 30 July 2016 have an extended deadline which runs for three months from the date they received the letter to submit a paper return.