Self-Assessment tax return for the last tax year (6 April to 5 April) must be submitted if any of the following apply to you:

• you were self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you can claim tax relief on)
• you were a partner in a business partnership
• you earned £100,000 or more

You may also need to send a tax return if you have any untaxed income, such as:

• some COVID-19 grant or support payments
• money from renting out a property
• tips and commission
• income from savings, investments, and dividends
• foreign income

There are two deadlines for submitting your tax return:

• 31 October for a paper tax return
• 31 January for an online tax return

If you owe any tax, this must be paid in full by midnight on 31 January. If you are struggling to pay this, the HMRC allows you to apply for a payment plan. You can use this tool to check which payment plan is right for you – Click Here.

What happens if you miss the deadline?

HMRC will send you a penalty notice if you miss the deadline for either:

• sending in your tax return
• paying your tax on time

Penalties for submitting your tax return late

You will have to pay the penalty if you do not send your tax return on time. You will also have to pay interest on the amount you owe and any penalties. If you delay sending in your tax return by:

• One day — you must pay a penalty of £100
• Three months — you may have to pay a penalty of £10 a day for a maximum of 90 days
• Six months — you may have to pay a further penalty of 5% of the tax you owe or £300, whichever is greater
• 12 months — you may have to pay a further penalty of 5% of the tax you owe or £300, whichever is greater – in some cases, you may have to pay up to 100% of the tax you owe

Penalties for paying your tax late

There are extra penalties if you pay your tax return late; these are:

• 30 days — you’ll have to pay 5% of the tax you owe at that date
• 6 months — you’ll have to pay a further penalty of 5% of the tax you owe at that date
• 12 months — you’ll have to pay a further penalty of 5% of the tax you owe at that date

If you have not submitted your tax return or don’t think you will be able to make your tax payment in time, then you should contact the HMRC as soon as possible. If you need any support with this, then contact us and we can try to help you. You can call 01623 490 120 or email This email address is being protected from spambots. You need JavaScript enabled to view it.