The tax return deadline when submitting your on-line Self Evaluation for the tax 12 months ending 5 April 2020 is midnight on 31 January 2021.
There are different necessary self-employed Self Evaluation deadlines too – see all of them right here.
January 2020 deadline for 2018-2019 Self Evaluation tax returns
Should you introduced house untaxed earnings between 6 April 2018 and 5 April 2019 – for instance if you happen to had been self-employed or incomes cash from a rental property – the deadline for submitting your on-line tax return for this era was 31 January 2020.
Should you’ve missed this submitting deadline you’ve most likely already acquired a fantastic. However the fines maintain piling up the longer you delay, so it’s necessary to file your tax return and pay any tax owed as quickly as attainable.
Should you want a hand, try our top tax return tips.
Self-employed earnings earned between April 2019 and April 2020
For untaxed earnings earned through the 2019-20 tax 12 months, the net deadline for submitting your Self Evaluation tax return and paying your invoice is midnight 31 January 2021.
The federal government understands that many companies have had a tough 2020. Should you suppose you’ll battle to pay your Self Evaluation tax invoice in 2021, and owe as much as £30,000, you may defer making fee in full till 31 January 2022.
The federal government has beforehand stated that if you happen to will pay your tax invoice, although, you need to – not least as a result of curiosity might be utilized to the excellent steadiness from 1 February 2021.
Companies might want to use HMRC’s Time to Pay service on-line to use for a deferral.
Different Self Evaluation deadlines
There are a number of different Self Evaluation dates all year long to remember. It’s unlikely that each one of them might be related to you, however perceive which of them apply so that you just don’t miss any necessary deadlines.
31 July is the deadline for making your second ‘fee on account’ instalment to HMRC. Cost on account applies to you in case your Self Evaluation tax invoice was over £1,000 whenever you submitted your tax return for the interval. It does not apply in case your tax invoice was lower than £1,000, or if 80 per cent or extra of your tax was deducted at supply (for instance by your tax code, or as a result of your financial institution has deducted curiosity in your financial savings). Check out our payment on account guide if you happen to’re unsure.
5 October is the deadline for telling HMRC that you just’re self-employed in order that they’re conscious you should full a tax return subsequent 12 months. Should you’re already registered as self-employed, there’s no want to do that once more. Take a look at our guide to registering with HMRC for extra data.
31 October is the Self Evaluation deadline for the tax 12 months if you wish to file a paper return moderately than submitting on-line. Nonetheless, most companies discover it simpler to file their tax return on-line – and beneath the federal government’s Making Tax Digital plans, ultimately paper submitting is probably not an choice.
30 December is the deadline for submitting your on-line tax return in order for you the tax owed to be collected by PAYE through your tax code. That is solely an choice when you have some earnings that’s already taxed by PAYE (as in, you’re employed in addition to self-employed), and in case your Self Evaluation tax invoice is under £3,000. See our article on tax codes for extra data.
Self-employed earnings earned between April 2020 and April 2021
Should you proceed incomes untaxed earnings from 6 April 2020, it will fall into the tax 12 months 2020-21, which ends on 5 April 2021.
The deadline for submitting a 2020-21 Self Evaluation tax return might be midnight on 31 January 2022, though regulate Making Tax Digital bulletins in case there are any updates.
Though 2022 might sound like a great distance off, it’s a good suggestion to start out fascinated by your tax return as quickly as you begin incomes the cash. For instance:
use an app or a spreadsheet to maintain monitor of your earnings, which ought to make every thing a lot simpler with regards to submitting your tax return
Nonetheless feeling confused about Self Evaluation dates and deadlines? Ask any questions within the feedback.