The deadline to submit your 19/20 self-assessment tax return has been extended to 28th February 2021 (from the 31st January). If you are one of the 11 million people who are required to complete a self-assessment tax return, you have less than 3 weeks to complete your return for tax year 2019/20. Financial penalties will be imposed on those who miss the deadline – don’t be one of them!
Do you want to avoid a financial penalty?
If you are struggling with the burden of your self-assessment tax return, or want to remove the stress and time it takes to complete, please contact us ASAP by using either our “contact us page” or via the email address on our website. The sooner you contact us, the sooner your self-assessment tax return can be completed, and you can relax.
If you are completing a tax return for the first time, you will need to register for Self-Assessment. This can be completed through the HMRC website or by calling the Self-Assessment Payment Helpline on 0300 200 3822.
Do I need to complete a self-assessment tax return?
You are required to complete a Self-Assessment return if you:
- have earned more than £2,500 from renting out property
- have received, or their partner has received, Child Benefit and either of them had an annual income of more than £50,000
- have received more than £2,500 in other untaxed income, for example from tips or commission
- are a self-employed sole trader whose annual turnover is over £1,000
- are an employee claiming expenses in excess of £2,500
- have an annual income of over £100,000
- have earned income from abroad that they need to pay tax on
We know that this year has been particularly difficult for sole traders and small business alike, due to the coronavirus. HMRC is determined to help customers during this difficult time, who may need help to spread the cost of their tax bill. That’s why HMRC have set up a payment plan to spread the costs. We can liaise with HMRC on your behalf to arrange this, if required.
Don’t be a victim, stay vigilant against fraud!
Sadly, at this time of year, fraudulent activity is rife. Please stay vigilant and be alert if someone calls, emails or texts claiming to be from HMRC, saying that you can claim financial help, are due a tax refund or owe tax. It might be a scam. Check GOV.UK for how to a recognise genuine HMRC contact.
In an ordinary year. you don’t need to wait until January 31st to complete your tax return, it can be completed at any time following 5th April for that tax year, so why wait – contact us as soon as you can and get it out of the way.