Paper Self Assessment deadline just weeks away

The paper Self Assessment deadline for the 2020 to 2021 tax year is 31 October, taxpayers have been reminded.

But HM Revenue & Customs (HMRC) said self-employed workers and landlords should submit digitally to speed up the time it takes to file and avoid common mistakes.

The digital tax return deadline is 31 January 2022, three months after the paper cut-off date.

Customers can file before the October and January deadline but still have until 31 January to pay.

Taxpayers who believe that they may struggle to pay their tax bill should contact HMRC about setting up an affordable monthly payment plan through the regulator’s online self-serve Time to Pay facility.

Commenting on the report, HMRC’s Myrtle Lloyd, Director General for Customer Services, said: “We want to help people get their tax returns right by making sure they are prepared and have everything they need before they start their Self Assessment. If anyone is worried about paying their tax bill, support is available – search ‘time to pay’ on GOV.UK.”

“The fastest way to complete a tax return is online via a customer’s Personal Tax Account. They will need their UTR to access their tax return, as well as details of their income or earnings and other financial records,” the tax office added.

HMRC also reminded taxpayers to include taxable grants received through the Self-Employment Income Support Scheme (SEISS), where applicable.

According to the latest data, more than 63,500 taxpayers filed their tax return on 06 April, the first day of the tax year.

For help and advice with related matters, please get in touch with our team today.

Posted in Business, Income Tax.