Don’t forget that the deadline for submitting your 2018/19 self assessment tax return is midnight on 31 January 2020 – just one month to go!
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 which 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.
If you haven’t yet filed your tax return, then contact our offices as soon as possible for a no obligation quotation and to arrange to bring in your records.