SELF ASSESSMENT DEADLINES FOR 2019-2020 TAX RETURN STARTING TO COMMENCE

In the current climate thoughts about COVID-19 are probably more prevalent than tax returns, which is understandable. With the government doing its best to keep people safe as well as encouraging people to get back to their normal life style within the COVID-19 restraints some tasks may have dropped down the priorities list but they should not be forgotten as they also can have an impact on your life.

Accepting Self-assessment returns is not peoples favourite subject but deadlines for 2019-2020 tax returns are now very much on the horizon.

If you need to register for self-assessment, then you only have October 5th to do so.

If you complete a paper tax return, then HMRC must receive it by Midnight 31st October.

If you are eligible HMRC can collect your taxes through your wages or pension one of the qualifying items being you need to submit your paper tax return by 31 October or your online tax return online by 30 December

Deadlines

HM Revenue and Customs (HMRC) must receive your tax return and any money you owe by the deadline.

The last tax year started on 6 April 2019 and ended on 5 April 2020.

Self Assessment

Deadline

Register for Self Assessment if you’re self-employed or a sole trader, not self-employed, or registering a partner or partnership 5 October 2020

Paper tax returns Midnight 31 October 2020

Online tax returns Midnight 31 January 2021

Pay the tax you owe Midnight 31 January 2021

There’s usually a second payment deadline of 31 July if you make advance payments towards your bill (known as ‘payments on account’).

Because of coronavirus (COVID-19), you can delay making your second payment on account. You’ll not be charged interest or penalties as long as you pay before 31 January 2021.

You’ll usually pay a penalty if you’re late. You can appeal against a penalty if you have a reasonable excuse.

When the deadline is different

Submit your online return by 30 December if you want HMRC to automatically collect tax you owe from your wages and pension. You must be eligible.

HMRC must receive a paper tax return by 31 January if you’re a trustee of a registered pension scheme or a non-resident company. You cannot send a return online.

HMRC might also email or write to you giving you a different deadline.

Partnership returns if you have a company as a partner

If your partnership’s accounting date is between 1 February and 5 April and one of your partners is a limited company, the deadline for:

online returns is 12 months from the accounting date
paper returns is 9 months from the accounting date

2018 to 2019 tax year and earlier

The Self Assessment deadline for these tax years has passed. Send your tax return or payment as soon as possible - you’ll have to pay a penalty.

Who must send a tax return

You must send a tax return if, in the last tax year (6 April to 5 April), you were:

self-employed as a ‘sole trader’ and earned more than £1,000
a partner in a business partnership

You will not usually need to send a return if your only income is from your wages or pension. But you may need to send one if you have any other untaxed income, such as: