Self-Assessment customers urged to check details early
Self-Assessment customers are being reminded to check they have the correct information in order to complete their tax returns.
HM Revenue and Customs (HMRC) is reminding Self-Assessment customers to check that they have the correct information in order to complete their tax returns.
The deadline for 2020/21 tax returns is on 31 October, for those completed on paper forms and 31 January 2022 for online returns, said HM Revenue and Customs.
HMRC said 63,500 customers have already started filing their tax returns starting 6 on April, the beginning of the tax year.
Customers can continue to file before the January deadline but HMRC warned the 31 January payment deadline is fixed.
Customers new to Self-Assessment must register via GOV.UK to receive their Unique Taxpayer Reference (UTR). Self-employed individuals must also register for Class 2 National Insurance.
HMRC said new customers can access guidance to ensure they file correctly including information on record-keeping, knowing when the filing and payment deadlines are, and the potential for a first tax payment to include a payment on account.
This year, customers will also have to declare if they received any grants or payments from COVID-19 support schemes up to 5 April 2021 as these are taxable, including:
Self-Employment Income Support Scheme (SEISS)
Coronavirus Job Retention Scheme (CJRS)
Other COVID-19 grants and support payments such as self-isolation payments, local authority grants and those for the Eat Out to Help Out Scheme
For customers concerned about payment, HMRC has established an affordable payment scheme that can be accessed through its self-service Time to Pay facility.
“We want to help people get their tax returns right by making sure they are prepared and have everything they need before they start their Self-Assessment. If anyone is worried about paying their tax bill, support is available – search ‘time to pay’ on GOV.UK,” HMRC’s Myrtle Lloyd, director-general for customer services, said.
The fastest way to complete a tax return is online via a customer’s Personal Tax Account. Customers will need their UTR to access their tax return, as well as details of their income or earnings and other financial records. Detailed information on what documents are needed for Self-Assessment area on GOV.UK