Warning on UK tax deadline

Thursday 2nd October 2008, 2:30PM BST.

ISLANDERS with UK-sourced income could face penalties if they do not get their personal paper tax returns in by 31 October.

Fran Snoding (pictured), director of Fortis Reads Private Clients, said it was essential to take notice of changes to filing dates outlined in the Finance Act 2007.

‘The legislation introduced new deadlines for those returns filed in the traditional paper form and failure to comply could result in automatic and potentially daily charges,’ he said.

‘Guernsey residents are just as exposed to the penalties if they receive UK income of any sort, for instance rental income on a property or through UK-based bonds and pensions.’

For the UK tax year which ended on 5 April, individuals need to file their paper return by 31 October.