Make a New Year’s resolution to get ahead of your self-assessment deadline

Taxpayers who have yet to file a tax return for 2020-21 have just a short time left to take action if they want to avoid a financial penalty.

With the Christmas and New Year holidays taking a chunk out of the working month, now is the time to think about preparing your self-assessment online tax return.

If you owe less than £3,000, in tax and want HMRC to collect this through your PAYE code, the deadline for submitting your online self-assessment is midnight on 30 December 2021.

For all other online returns, including balancing payments, you have an additional month to file online by 31 January 2022.

For help and advice from Moore Thompson regarding tax and self-assessment, please contact us.