3rd January 2020
The deadline to file your 2018-19 self-assessment tax returns is fast approaching. You have until midnight on the 31 January 2020 to file your return online.
The only exception to this rule is if you received a notice from HMRC to make an online tax return after 31 October 2019. In this case, you have three months from the date of issue to submit your return.
Those who are late in submitting their return face a penalty of £100, even if there is no tax to pay, or if the tax has been paid on time. Additional penalties are due for continued late payments and late filing.
Last year 735,258 taxpayers filed their returns on 31 January and 731,186 taxpayers missed the deadline completely.
Meanwhile, over 2,000 taxpayers filed their returns on Christmas Day in 2018, and another 8,465 submitted them on Boxing Day. HMRC said that the peak hour for filing on Christmas Day was between 1pm and 2pm, when 723 returns were submitted.
Fortunately our Devon clients have the reassurance that we have filed their self-assessment returns online in good time so they could enjoy their festive celebrations without the worry, but anyone who does still need to file their 2019 return, urgent action is needed. We would also advise that although 2021 may sound like a long way off, it’s a good idea to start thinking about your tax return as soon as you start earning the money.
We can help you meet your obligations and advise you on the correct figures to include on your tax return as well as calculate your tax liabilities. This reduces the chances of getting it wrong which in turn, reduces the chances of penalties and interest.
Thompson Jenner has a dedicated personal tax team with the experience and specialist skills that you require to help with all your self-assessment obligations. Why not give us a call on 01392 258553 or 01395 279521 to find out how best you can benefit from our self-assessment tax services.
