31 January Tax Return Filing Deadline

If you were not one of the 2,700 taxpayers who spent Christmas Day catching up with paperwork and filing your 2020 tax return, you may have been hoping HMRC would extend the 31 January 2021 filing deadline in view of the coronavirus crisis.

Despite speculation on an extension, the Government has maintained that the deadline will not change and penalty notices for late filing will not be automatically waived.

However, HMRC Guidance does specify that coronavirus related problems will be accepted as a reasonable excuse for missing the deadline or for payment of the tax liability.  In any appeal against a penalty notice you will be expected to explain how you have been affected by coronavirus, and you must still file the return and make the outstanding tax payment as soon as possible.

Taxpayers experiencing cashflow difficulties for amounts up to £30,000 can apply for time to pay over a 12 month period using an online process.  For larger amounts, the taxpayer should contact HMRC to negotiate a suitable arrangement.

For any questions in relation to self assessment tax returns and tax payments, please contact Jacqui Birks on 07983 435097 or at jacqui.birks@theburnsidepartnership.com