The deadline for submitting your 2019/20 self assessment return is 31 January 2021. The deadline applies to taxpayers who need to complete a tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 National Insurance Contributions (NIC), capital gains tax and High Income Child Benefit Charge liabilities.
There is a penalty of £100 if a taxpayer’s return is not submitted on time, even if there is no tax due or the return shows that they are due a tax refund.
The balance of any outstanding income tax, Classes 2 and 4 NIC, capital gains tax and High Income Child Benefit Charge for the year ended 5th April 2020 is also due for payment by 31 January 2021. Where the payment is made late interest will be charged.
The first payment on account for 2020/21 in respect of income tax and any Class 4 NIC or High Income Child Benefit Charge is also due for payment by 31st January 2021.
HMRC revealed that more than 2,700 taxpayers filed their return on Christmas Day. If you would like help with your return or agreeing your tax liability, please contact us.
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Based in Leicester we have been established as a firm of Accountants since 2000 and today we continue to build on our enviable reputation for providing excellent advice and first class services to our business and personal clients alike. We have many clients in the local community small and large and in varied sectors. With seven directors and a supportive growing team, torr waterfield are here for all your accounting needs. Whether it's a Company start up, Annual Accounts or a Tax Return torr waterfield can provide a hassle free service.
In addition to traditional auditing, accounting and tax services we pride ourselves on offering advice on how to improve and develop your business. Whether you need an integrated business strategy, access to corporate finance or specialist tax advice we are here to help you achieve your goals.
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