Get quacking with less than a month to go to complete tax returns

Posted by
editor@newrytimes.com
Wednesday, January 8th, 2020
Business

5.4 million taxpayers have less than a month to complete their Self Assessment tax returns before the 31 January deadline.

More than 11 million 2018/19 tax returns are due back with HM Revenue and Customs (HMRC) by the end of January.

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Around 54% of taxpayers have already filed their returns with more than 5.6 million of those completed online (89% of the total returns filed).

 

 

Angela MacDonald, HMRC’s Director General for Customer Services, said, “The Self Assessment deadline on 31 January is fast approaching so customers have just under a month left to file their tax returns online to avoid any unnecessary penalties.

“Any tax due is also payable by 31 January. We know that can be a worry and not only when large sums are involved, so I would urge anyone who is expecting to find it difficult to pay their tax to get in touch with us as soon as possible. We will do everything we can to help and provide practical support,” she added.

If you are completing Self Assessment for the first time or are yet to start your 2018/19 tax return, there is a wide range of support and guidance available on GOV.UK to help at every stage of the process.

 

 

For any customers who are yet to start their 2018/19 Self Assessment, films and webinars can help with each stage of the process, with bespoke guidance for individuals’ varying circumstances, including a video specifically aimed at customers completing a tax return for the first time.

Help is also available on GOV.UK or from the Self Assessment helpline on 0300 200 3310 and on social media.

 

 

People need to complete a tax return if they:

– or their partner received Child Benefit and either of them had an annual income of more than £50,000
– received more than £2,500 in other untaxed income, for example:~
– from tips or commission
– Money from renting out a property
– Income from Savings, investments and dividends
– Foreign income
– are self-employed sole traders and earned more than a £1,000
– are a partner in a business partnership
– are employees claiming expenses in excess of £2,500
– have an annual income over £100,000

If customers completed a Self Assessment tax return last year but didn’t have any tax to pay, they still need to complete a 2018/19 tax return unless HMRC has written to them to say it is not required.

 

 

Customers who are not sure if they need to file a tax return can use the following tool – Check if you need to send a tax return.

 

For more of today’s top stories in Newry and beyond, click here.  

 

 

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