In this ever changing landscape of uncertainty the second week of lockdown presents challenges for us all.
Government support is constantly changing and we are here to help keep you informed.
Despite all the chaos this year the Self-Assessment Tax Return filing deadline remains unchanged and online returns for the year to 5th April 2020 must but be submitted to HMRC by Midnight on 31st January 2021 to avoid late filing penalties.
If you haven’t already done so why not take the opportunity during lockdown to send us your personal tax information.
Avoiding the last minute rush will let us give you certainty regarding your Self-Assessment liability and buy back time to focus on the future as we begin to come out of lockdown.
Did you know, If you prefer to have your Self-Assessment liability collected through your PAYE tax code you must submit your online return by 30th December 2020.
To be eligible you must meet all 3 of the following criteria:
- you owe less than £3,000 on your tax bill
- you already pay tax through PAYE, for example you’re an employee or you get a company pension
- you submitted your online tax return online by 30 December 2020
There are a limited number of circumstances when HMRC may not be able to accommodate your wishes but in the majority of cases the tax you owe will be taken from your salary or pension in equal instalments over 12 months, along with your usual tax deductions.
For more information and support on self-assessment please contact us if you wish to speak to a member of our expert team on 0330 22 33 660 or firstname.lastname@example.org.