AT the end of this month taxpayers could face stiff penalties if they fail to meet the self-assessment deadline looming on Saturday warns ACCA (the Association of Chartered Certified Accountants).

This statutory deadline is for both the submission of late returns and for any Income Tax due to be paid.

Jonathan Beckerlegge, ACCA spokesperson for the North East said that Saturday's deadline for tax returns applies only to those people who did not meet the January 31 date for filing - taxpayers who are already six months late.

He added: "People should ensure that their completed returns are submitted as quickly as possible. They should also ensure that the Inland Revenue has received the return. Where possible, the documents should be handed in at the tax office."

The Inland Revenue imposes stiff penalties for people who miss the due date. They will be liable for a £100 fine for late submission of returns.

Mr Beckerlegge said: "In order to avoid paying these charges, taxpayers must not forget Saturday's deadline otherwise they will incur further penalties and surcharges.

"Self-assessment has proved to be a complex process and it is easy to become confused with deadlines and payments. You should take steps now to ensure that you are able to complete and file your tax return and pay the tax by the deadline."

He added that those who felt totally overwhelmed by self-assessment should seek professional advice now. "You can, for instance, find a Chartered Certified Accountant by looking on the ACCA website at www.accaglobal.com."

Updated: 09:15 Tuesday, July 27, 2004