The Self Assessment Tax Return Deadline

When is the deadline for the Self Assessment tax return?

The Self Assessment tax return deadline is just a few weeks away on the 31st January 2021, so if you’re yet to complete your tax return – you don’t have long left!

Over 11 million people are expected to complete their tax return this year and HMRC recommends completing it ASAP. Giving you time to pay it back, or set up a payment plan.

Can I still submit a paper tax return?

No, unfortunately. The deadline for a paper Self Assessment tax return was 31st October 2020. If you want to make the deadline for the next tax year, it is 31st October 2021.

What happens if I miss the Self Assessment deadline?

It’s really important that HMRC receives your Self Assessment before the deadline, otherwise you could end up with a fine. If you send your information late, you will receive an automatic penalty of £100, and the penalty will increase the longer it takes for HMRC to receive your return.

If you have a reasonable excuse for why your return or payment being late, for example, you were ill or had a bereavement in the family, you can appeal against the penalty. Find out about reasonable excuses on HMRC’s website.

Who needs to make a tax return?

According to HMRC, you need to make a tax return if you:

  • are a self-employed sole trader whose annual turnover is over £1,000
  • have earned more than £2,500 from renting out property
  • have received, or your partner has received, Child Benefit and either of them had an annual income of more than £50,000
  • have received more than £2,500 in other untaxed income
  • are an employee claiming expenses in excess of £2,500
  • have an annual income of over £100,000
  • have earned income from abroad that they need to pay tax on

How can Brian Alfred help?

Here at Brian Alfred, our tax experts can help take the hassle out of completing your tax return and claiming your tax rebate. We specialise in getting the maximum out of your tax rebate, real quick. If you would like to speak to a member of the team about your Self Assessment tax return, please request a callback ASAP before it’s too late.