HMRC has issued guidance for tax agents and advisers to help manage the 31 October 2011 self-assessment deadline. Among the key points set out in the guidance note is a reminder for agents of the £100 penalty if a client misses the filing deadline. The advantages of using HMRC online services and the various payment methods for clients to pay their self-assessment tax bill are also covered in the guidance.

In the guidance, agents are reminded that if a client misses the Self-Assessment filing deadline this year they will be immediately liable for a £100 late filing penalty. The penalty will apply even if there is no liability or if any tax due is paid in full by 31 January 2012.

Under general information, it is noted that clients won't have to pay a penalty if they have a reasonable excuse for missing the deadline. Usually the delay must be completely due to an exceptional or major unexpected event.

HMRC also remind agents that clients must notify any chargeability for Income Tax/Capital Gains Tax for 2010/11 by 5 October 2011 or a ‘failure to notify’ penalty may apply.

The full text of the guidance note is published on HMRC website at http://www.hmrc.gov.uk/agents/sa-31oct.htm