The deadline for paper Self Assessment tax returns is 31 October.

Anyone completing a Self Assessment tax return on paper – rather than online – is reminded that the deadline is 31 October, otherwise they risk a £100 penalty from HM Revenue & Customs (HMRC).

Information required to fill in a paper tax return includes a P60 form, self-employment accounts, savings and investments records and details of any untaxed income.

Less than one in three people need to fill out a Self Assessment tax return. Clare Merrills from the HMRC explained: “The people that do need to fill it out are people who are self-employed, people who are company directors and those who’ve got income that isn’t taxed before they actually get it, so for example if they were renting out a house and they were getting income from that. Plus those with complicated tax affairs need to fill out a form.”

While sending back a Self Assessment return after 31 October could result in a £100 fine, if all the tax payable to the HMRC is paid back in full before the 31 January 2009, the HMRC will reduce the fine to zero.

As an alternative to paper, people can switch to online returns by registering on the HMRC website – the deadline for online returns is 31 January 2009. By filling out your tax return details online, your tax is calculated automatically and is processed promptly and you will receive any money that you’re owed more quickly.

The deadline for paying back any money owed to the HMRC is 31 January, therefore the organisation is urging people to fill out their forms “sooner rather than later”.

For further information, visit the HMRC website, which includes a new Self Assessment video podcast, or ring the Self Assessment helpline on 0845 9000 444, open seven days a week, 8am-8pm.