Turkey and Tax Returns…

Amongst the less-than-cheery recent news announcements, it’s a nice distraction to see how many people filed their tax returns over the Christmas period!

HMRC have reported the following:

• Over 2,700 Tax Returns were filed on Christmas Day itself, with more than 200 being submitted between 2pm and 3pm.
• This compared to 3,000 who filed on Christmas a 2019, so slightly fewer.
• The number of people who submitted between Christmas Eve and Boxing Day also decreased over last year, with 31,400 filing compared to 34,200.
• Christmas Eve was the busiest day to file, with 20,200 returns being submitted.

The filing deadline for your Personal Tax Return is 31st January 2021, if you haven’t already done so.

If you are experiencing financial problems caused by Coronavirus, don’t compound that by failing to submit your Return. It’s far better to submit the Return, and know what your liability will be, and then contacting HMRC to discuss making a payment arrangement.

By doing so, it’s possible to make any payment due in January in instalments IF you have been adversely affected by the pandemic and would prefer to do so. To arrange this, you will need to contact HMRC; you can find more details by following this link.

Payments should be made as due or be subject to a payment arrangement before the due date, to avoid penalties or interest being incurred.

If you have any questions around Personal Tax or making your payment, please get in touch.

If you’re unsure of the position with Self Assessment or any other tax amounts due after the various deferrals that have been available recently, you can get up to date here.