Self-Assessment 2021/2022: Important Deadline

As the end of January nears, so does the deadline for payment of your self-assessment tax return for the period 2021/ 2022.

The deadline for payments of tax for this period, and for payments on account for 2022 – 2023 is January 31st. Whilst HMRC allowed taxpayers more time to file their tax return and pay the liability during coronavirus, there are no relaxation of penalties this year.

If your tax return is not submitted by the 31st January, you will pay a late filing penalty fee of £100 if the return is up to 3 months late - this amount can increase past this period.

If you do not pay your balancing payment and your first payment on account by the 31st January, HMRC will charge interest and late payment penalties on the amount due. To make payment, please visit https://www.gov.uk/pay-self-assessment-tax-bill and have your UTR to hand.

If you are unable to make payment and your liability is under £30,000 you can arrange a payment plan online at https://www.gov.uk/difficulties-paying-hmrc/pay-in-instalments. If your liability is over this amount you can call HMRC on 0300 200 3835 to make these arrangements.   

The only exception which allows a filing delay is if you have only recently signed up for self-assessment. In these cases, you have up to 3 months from the date your UTR was issued to submit your return.

It is important to stress that you contact the personal tax team as soon as possible if you haven’t provided all necessary information to allow them to complete your return. This ensures there is time for amendments and discussions about your liability before the 31st January.