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Process can take up to seven weeks
Taxpayers preparing to send a self-assessment tax return online for the first time should ensure they register in good time for HMRC’s online services.
It can take up to seven working days to complete the process, as an activation code has to be posted to the taxpayer.
To register, the taxpayer must visit www.hmrc.gov.uk/signup. A user ID will be assigned immediately and this will be followed by the activation code in the post. Returns for 2011/12 must be filed online by 31 January 2013.
The penalties for late self-assessment returns are:
- an initial £100 fixed penalty;
- if the return remains outstanding after three months, additional penalties apply of £10 a day, up to a maximum of £900;
- after six months, a further penalty of 5% of the tax due or £300, whichever is greater; and
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after 12 months, another 5% or £300 charge, whichever is greater.
