Self-Assessment for the tax year 6 April 2020 to 5 April 2021

Tax-Return-April-2021

As we are quickly approaching the end of the year we wanted to remind you all that as well as Christmas you also need to think about your self-assessment tax return submission.

We are busy now helping our clients by processing their records and getting their self-assessment tax returns submitted on time and more importantly ensuring that the submission is accurate.

Here are a few reminders to help you get organised so that you are ready to get your tax return submitted.

Who needs to submit a tax return?

You need to submit a self-assessment tax return for 6 April to 5 April last year if you were:

  • self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you can claim tax relief on)
  • a partner in a business partnership

The HMRC are suggesting that if you did not send an online return last year, allow extra time (up to 20 working days) as you’ll need to register first.

What are the deadlines?

For the last tax year started on 6 April 2020 and ended on 5 April 2021 you need to complete and submit your tax return by:

  • Online tax returns – Midnight 31 January 2022
  • Pay the tax you owe – Midnight 31 January 2022

There is also a second payment which is due on 31 July 2022 which is known as ‘payment on accounts’

If you leave your tax return till the last minute you won’t know how much you need to pay on 31 January 2022, so we advise that you get the tax return submitted earlier so you know your tax liabilities in advance.

What happened if you submit late?

If you file your tax return late then the penalty is £100 if it is up to 3 months late. If you are more than 3 months late filing your tax return the penalty will increase.

If you make your payment late the penalty is higher, and you will also be charged interest on late payments. If you know that you will be submitting your tax return late and need some advice, we can help and even contact HMRC on your behalf.

If you want us to help you with your tax return, then please do contact us as soon as possible so that we can allocate time to work on this. Contact us by calling 01623 490 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

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