If you were self-employed in the tax year 2010/2011 time is running out to file your tax return.

The deadline for the paper returns has long since passed (31st October) but you can still file your tax return online, and must do so by the 31st January. If you don’t you will receive a fine which starts at £100 and could rise to as much as £1,600.

If you are already registered for self assessment online, don’t delay it any longer and get the return filed. If you are not set up for on-line filing it may be better to contact a bookkeeper or accountant in your local area to do it for you. A client of mine was recently advised that it could take up to 3 weeks for them to be set up for online filing, which would take you well past deadline day.