The second payment on account for 2019-20 was due by 31st July 2020 but as part of the Government’s support measures during the coronavirus outbreak there was an option to defer this There are other options to defer payments due on 31st January 2021 for up to 12 months, including a self-serve Time to Pay facility online for debts up to £30,000 or by making an arrangement with HMRC. But please note you will be required to pay interest on any tax owing from 1st February 2021.

HMRC is trying to encourage taxpayers to complete their self-assessment as early as possible to avoid the stress as the filing date looms. Last year there were over 11 million taxpayers who were required to complete a self-assessment, but more than 958,000 people missed the deadline. An interesting fact for you: over 3,000 taxpayers submitted their tax returns on Christmas Day with another 9,254 people on Boxing Day.

If you are filing online for the first time you need to make sure you register to use HMRC’s Self-Assessment online service as soon as possible. If you would like any help or advice or advice with completing your self-assessment, please feel free to get in touch directly by phone 01269 508081 or email to georgina@gkaccountingservices.com. Alternatively, you can use the website contact form.