self assessment returns 20/21

Updated: Jan 6

It's unbelievable - seems only a year since the last time we all had to do a SA tax return.....

Yes it's that happy time of year when fobbing off an unwelcome job finally hits the buffers of reality, and it HAS to be done. Over 99% of our clients ask us to do this for them, as getting a reliable WiFi connection bobbing around on a yacht is so stressful. And of course if you're in a covid hotel at Melbourne airport, it's even trickier.

We use top drawer software for all Tax Returns, so you can be sure that if you give us accurate data the tax bill will be right. This year things are a bit different because Dishi gave us the choice of not paying the July 2021 tax instalment due to the covid pandemic. Sadly this really made the pain worse as NOW you need to pay not only the usually massive tax bill on 31 January 2022, but in addition this naturally includes the one you fobbed off last July.

And a few of you are still self-employed, so you got SEIS grants which are all taxable, so just when you thought you had had a bad year......

A while ago we requested HMRC to give us more time to do the returns due our office being mostly closed due to government 'guidance', and us working from home using a 256k modem. Amazingly HMRC said "not interested, just work harder/faster".

What they 'generously' have announced (at the very last minute) is that they won't charge the £100 penalty for not making filing by 31.1.22, and given us another 4 weeks to file returns. NEVERTHELESS they still want the tax PAID on time on 31st Jan, even though you don't know the ££number to pay etc. zzzzzz.

Also HMRC has just announced:-

"Our Time to Pay options are still available to assist customers. Once they have filed their 2020-21 tax return, customers can set up an online payment plan to spread Self Assessment bills of up to £30,000 over up to 12 monthly instalments".

Thank heavens for civil servants reliably coming up with practicable solutions to all life's little problems.

Need to pay some tax? click here for how.

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