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It's nearly the season of....Tax Returns!

Posted by Neil Yeoman on November 18, 2020 at 5:30pm in Aberdeen Business and ABN Services

A gentle reminder that 2019-20 Self-Assessment Tax Returns have to be filed with HMRC in.......75 days!

This may feel a fair bit away but once the Xmas and New Year period is by us the deadline approaches fast....too fast! (It's the 31st January 2021 for those not aware)

Remember too that the tax calculation may have some additional challenges this year.

If you haven't done so already, get yourself organised and file your tax return before it becomes a painful event.

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Replies

Neil Yeoman November 20, 2020 at 5:18pm

No deadline extension (so far) Andrew....however there is a Time To Pay scheme for which the threshold has been increased to £30k.

There are various rules to adhere to. I'd strongly urge anyone to seek professional assistance from their accountant ASAP.

https://www.gov.uk/government/news/self-assessment-customers-to-ben...

Self Assessment customers to benefit from enhanced payment plans

HMRC has increased the threshold for paying tax liabilities to £30,000 for Self Assessment customers to help ease any potential financial burden they…
Andrew Smith November 19, 2020 at 5:49pm

A grim but important reminder! Is it true the deadline may be extended this time to March 31??