This payment and return will be due by January 31 following the end of the tax year so the first such return is due on January 31, 1998. For most people this regime will make completing a tax return more onerous. It is currently possible to put expressions like per accounts , see PAYE returns etc. and rely on the Inland Revenue collating the information from other sources Under the new regime figures must be given for each source of income and anything else will result in the automatic rejection of the return. Penalties An automatic penalty of 100 will be applied to anyone who is issued with a tax return and does not submit it by the January 31 deadline. If the return is rejected because it cannot be processed then the corrected return must be in by the deadline to avoid a fine.
Further penalties apply if delays continue for a further six months.
A tax return will not be rejected simply because of an arithmetic error. When the Inland Revenue process the return on their computer the calculations will be re-performed and if wrong a repair notice issued. This will not result in a fine. It is possible to elect for Revenue calculation in which case the deadline for submission of the return is four months earlier - September 30. However, this will save the taxpayer very little work.