Self Assessment Tax Return
The deadline for filing your Self Assessment Tax Return has been extended. Normally the return is due on 31 January each year, but has been extended to 28 February for 2021 only, because of the pandemic. If you file your return by this new date, no penalties will be incurred. Previously a £100 fine would be charged for late a submissions
The development is described as offering business owners and the self-employed some much needed breathing space at a difficult time. With an estimated 1.8 million people still to file their return, HMRC looks like it is right to offer the extension. If you are still struggling to meet the new deadline, contact us. We will be able to offer help and advice.
Tax owed still needs to be paid
Only the self assessment return deadline has been extended; not the date the tax is due for payment. If you didn’t pay the tax 31 January, interest (and possibly penalties) will be applied when you come to settle.
HMRC does have payment plans available for people struggling to make payments, and a telephone help desk if people are struggling/unable to may. The number is 0300 200 3822.
If you need any assistance filing your self assessment tax return, email Jason McClounan