Self-assessment tax deadline approaching

There are still two ways to submit your self-assessment tax return.

Most taxpayers chose to file electronically, and if we file your tax return, this is the way we would file on your behalf. If you do file electronically, the filing deadline for the 2020-21 tax year is 31 January 2022.

But there are still taxpayers that prefer to fill out a paper return. If this is your preference, please note that if your 2020-21 self-assessment tax return is still not filed, you have missed the filing deadline (31 October 2021). You have two options, to minimise penalties: complete and submit the outstanding return asap or complete and submit the return online. If you need help switching to the electronic filing option, please call, we can help.

In a recent press release, HMRC were at pains to remind taxpayers that this year, they will also have to declare if they received any grants or payments from COVID-19 support schemes up to 5 April 2021. These grants are taxable, including:

  • Self-Employment Income Support Scheme,
  • Coronavirus Job Retention Scheme,
  • other COVID-19 grants and support payments such as self-isolation payments, local authority grants and those for the Eat Out to Help Out scheme.

The £500 one-off payment for working households receiving tax credits should not be reported in self-assessment.

Latest Blog
18
Apr

New employment protections

The following changes were enacted from 6 April 2024. These changes apply to England,...

Read More
16
Apr

Opening up small company reporting

Companies House are working on detailed changes that will require small and micro siz...

Read More
12
Apr

Boost for small businesses

In a recent press release, HMRC underlined the benefits to smaller businesses from th...

Read More
09
Apr

A new acronym

Most readers of our posts will recognise the acronym CGT or IHT -Capital Gains Tax or...

Read More