Online self assessment tax deadline: Gov postpones penalty date - but it's coming
The annual January 31st deadline for submitting online Self Assessment tax returns is close. But don’t leave it until the last minute. If you're self-employed, a partner in a business, or even receive an income from renting out property, you must complete a tax return.
In light of disruption caused by the Covid-19 pandemic, HM Revenue and Customs has announced a penalty waiver for the second year running. Whilst you can file without penalty until 28 February this year, leaving it until the last minute can be risky as you'll have less time to ensure you've the funds in place to pay it and this could cause you unnecessary anxiety.
Have you submitted your self-assessment tax return yet? Do you have all your information ready? And if you get an unexpected tax bill, do you have the funds available to cover the costs? When you don't have the means of paying the tax owed speak with HMRC or you could seek to raise finance to pay your tax bill.
Here's the key information you need to submit your return.
References
litrg @ bit.ly/3AGz13i
UK Gov @ bit.ly/3g54mn1
simply business @ bit.ly/3rV8JGF
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