If you have been issued with a 2021 personal UK tax return it is likely the deadline for submitting it to HM Revenue electronically is now less than 4 weeks away.
In addition, any balance of tax owed to HMRC in respect of the year to the 5th of April 2021 is to be paid by the 31st of January 2022.
If you have been issued with a Notice to File a 2021 UK tax return the return must be completed and lodged if a late filing penalty is to be avoided.
Penalties start at £100 if your tax return is received by HMRC a day late.
An additional daily penalty at the rate of £10 per day is added if the tax return remains outstanding more than 3 months after the due date (with a maximum daily penalty of £900), with additional penalties arising if the tax return remains outstanding more than 6 months after the due date for filing.
These penalties apply even if there is no tax to pay.
If a balance of tax is payable for the 2020/21 UK tax year and has not been paid by the end of January 2022 interest will start to accrue.
Late payment penalties are also payable if tax owing to HMRC in respect of the 2020/21 tax year is not settled, starting at 5% of the tax owing if not paid within 30 days of the 31st of January 2022.
Remember also that UK tax returns can now only be submitted to HMRC electronically – we are past the 31st October 2021 deadline for submitting a paper tax return for 2021 – and that a Residence supplement must be lodged if you are no longer living in the UK.
The Residence supplement cannot be lodged through the HMRC website.
If you think you need help preparing and lodging your 2021 UK tax return please complete the enquiry form on this web page. We will be pleased to have an initial no charge discussion about your situation and how we might help.
If you are not sure whether you are required to lodge a UK tax return under the self assessment regime please see the HMRC self assessment questionnaire here.