HMRC has issued a warning over missing a crucial form which can cost taxpayers £100 each. Self Assessment customers have until 31 January 2023 to submit their online return for the 2021 to 2022 tax year, HMRC has said.
HMRC is encouraging others to complete their return as soon as they can, so they know what they owe and can budget to make the payment by 31 January 2023. This also means that if a repayment is due it can be claimed back sooner.
Completing a tax return using HMRC’s online filing service is simple and convenient. Last year, more than 95% of customers filed online with many choosing to start it, save their progress and go back to it as many times as they need before it’s ready to submit. Those who submit their returns early still have until 31 January 2023 to pay.
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Myrtle Lloyd, HMRC’s Director General for Customer Services, said: “There’s still time to complete your tax return, to budget and look into the range of payment options if you need to. Help and support is available online to help customers with their tax returns. Just search ‘Self Assessment’ on GOV.UK to find out more and get started today.”
Filing early also means they will have plenty of time to access the number of payment options available including paying via the free and secure HMRC App and also setting up an online monthly payment plan (self-serve Time to Pay) and also paying through PAYE tax code (subject to eligibility).
It could also give taxpayers the option of payment on account. Those who are unable to pay their tax bill in full can access the support and advice that’s available on GOV.UK. HMRC may be able to help by arranging an affordable payment plan, HMRC has said.