Time to Get Ready for Self-Assessment
The deadline to complete a tax return for the 2020 to 2021 tax year is approaching.
The tax return deadline for the 2020 to 2021 tax year is 31/10/2021 for those completed on paper forms and 31/01/2022 for online returns.
This year, you will also have to declare if you received any grants or payments from COVID-19 support schemes up to 5 April 2021 as these are taxable, including:
- Self-Employment Income Support Scheme
- Coronavirus Job Retention Scheme
- other COVID-19 grants and support payments such as self-isolation payments, local authority grants and those for the Eat Out to Help Out scheme
The sooner that your tax return is prepared, the sooner you will be informed of any tax liability.
You will then have time to look into your options if you are going to have difficulty making the first payment by the 31/01/2022 deadline.
You may be able to set up a monthly payment plan online by using HMRC’s self-serve Time to Pay facility.
For Government Guidance on Self-Assessment please see https://www.gov.uk/government/news/time-to-get-ready-for-self-assessment
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