ICAEW highlights new online filing exclusions ahead of 31 October deadline
Released 9 October 2018
The Institute of Chartered Accountants in England and Wales (ICAEW) is highlighting self-assessment online filing exclusions ahead of the 31 October deadline.
The ICAEW has published an online article highlighting that the 31 October 2018 deadline for filing self-assessment returns for 2017/18 on paper is important not only for avoiding late filing penalties but also because HMRC’s service standard for processing paper returns is that 99% of returns received before 31 October should be processed by 31 December (in time for the self-assessment statement run). HMRC makes no commitment about the length of time it will take to process paper returns received after 31 October. The 31 October deadline for processing paper returns is effectively extended to 31 January where the return is covered by an exclusion from online filing, however, ICAEW advise filing early as there were considerable delays to the processing of 2016/17 paper returns for exclusion cases, with a backlog of approximately 5,000 returns accumulating of which 150 have still to be cleared. The latest exclusion list for 2017/18 was published on 11 May 2018 and HMRC expects to publish a revised exclusion list on gov.uk by 22 October 2018. The ICAEW is highlighting six further exclusions that will be included on the list when the next version is published which concern Lloyds underwriters, relief for property finance costs and Scottish taxpayers.
For more information, see 31 October filing deadline and online filing exclusions.