Subscribe to our newsletter

HMRC reminds taxpayers there are 100 days left to self assess

HM Revenue and Customs (HMRC) is reminding self assessment customers that there are just 100 days left to complete their tax return ahead of the deadline on 31 January 2021.

HMRC reminds taxpayers there are 100 days left to self assess
smsfadviser logo
  • Staff Reporter
  • October 26, 2020
share this article

In a statement issued by the tax authority, HMRC’s interim director general of customer services Karl Khan reiterated the office's determination to help customers during the COVID pandemic. 

"We know many customers will have been adversely affected by the coronavirus pandemic, or will need help to spread the cost of their tax bill. That’s why we’ve made it quick and simple to set up a payment plan to spread the costs and help people get back on their feet. It’s easy to do online and there’s no need to call us to set it up," said Mr Khan. 

Each year, around 11 million customers complete a self assessment tax return, but this year the tax authority is recommending customers complete their taxes early. 

“The vast majority of self assessment customers complete their tax return by the 31 January deadline, but you don’t need to wait until January; you can send it back now and get it out of the way," said Mr Khan. 

Once self assessment customers have completed their 2019-20 tax return, and know how much tax is owed, they can then set up their own payment plan to help spread the cost of their tax liabilities, up to the value of £30,000, the HMRC noted.

Customers can visit GOV.UK to find out more about the service and if they are eligible. 

"Be aware of copycat HMRC websites and phishing scams," the HMRC, however, noted. 

It advised taxpayers to always type in the full online address www.gov.uk/hmrc to get the correct link for filing their self assessment return online securely and free of charge.

"And be alert if someone calls, emails or texts claiming to be from HMRC, saying that you can claim financial help, are due a tax refund or owe tax. It might be a scam," the tax authority alerted. 

Who can complete a self assessment?

Customers must complete a self assessment return if:

  • they’ve earned more than £2,500 from renting out property;
  • they’ve received, or their partner has received, child benefit and either of them had an annual income of more than £50,000;
  • they’ve received more than £2,500 in other untaxed income, for example from tips or commission;
  • they are a self-employed sole trader whose annual turnover is over £1,000;
  • they are an employee claiming expenses in excess of £2,500;
  • they have an annual income of over £100,000; or
  • they have earned income from abroad that they need to pay tax on.
Receive the latest Financial Accountant news,
opinion and features direct to your inbox.

related articles