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MONEY COMMENT
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Last weekend, I experienced the pure joy of filling out my latest tax return. Actually, it wasn't too bad this time, as I managed to avoid the whopping error I made last year. Having completed my return last July, I stuck in it a drawer and forgot to post the pesky thing, which meant that I ended up having to complete the tax calculation sheets as well. D'oh! The first deadline for 2002-03 tax returns is just four weeks away. If you want the Inland Revenue to calculate your tax, then simply submit your return by 30 September, and it'll do the necessary legwork. It'll also tell you what you need to pay by 31 January 2004 (if anything) and, if your liability is less than £2,000, it will collect your tax via your PAYE code. If you're happy to do your own sums, then you're a better Fool than me - you have until 31 January 2004 to submit your paperwork. After this, late submissions attract a penalty of £100 (for a full list of all key dates, see this page on the Inland Revenue website). If you're feeling adventurous, you can always submit your return online. I haven't tried this route myself, although I was tempted when it first was introduced, as online submissions attracted a £10 discount off any tax due. Sadly, that offer has now ceased. Shameless plug time: If you need a helping hand, one product you might like to try is Intuit's TaxCalc. This is available via our Fool Shop for £17.99, with no charge for postage and packing. Alternatively, if you prefer, you can download the program direct to your PC. The program includes fifty tax-saving tips and a money-back guarantee: if you can't complete your form with 30 minutes, you get a full refund. End of plug. Anyway, I'm now off to the Post Office to make sure I don't repeat the mistake I made last year! More resources: Tax Centre | Taxes discussion board | TaxCalc offer