15 January

Self-Assessment 2019-20 Deadline is 31 January 2021

Who needs to file a self-assessment tax return?

Most UK taxpayers have their taxes deducted automatically from their wages, pensions or savings, and won't need to file a tax return. But tax returns are due from individuals or businesses who haven't had tax automatically deducted, or who have earned extra untaxed income.

You'll need to submit a tax return if any of the following applied to you in the 2019/20 tax year:

. You were self-employed and your income was more than £1,000.

. Your income was more than £50,000, and you or your partner claimed child benefit.

. You earned more than £2,500 from renting out a property, or from other untaxed income such as tips or commission.

. You earned more than £100,000 in taxable income.

. You earned £10,000 or more before tax from savings, investments, shares, or dividends.

. You earned income from abroad, or lived abroad and had a UK income.

. You need to pay capital gains tax.

. You received income from a trust.

. Your state pension was more than your personal allowance and was your only source of income (unless you started getting your pension on or after 6 April 2016).

. HMRC has told you that you didn't pay enough tax last year (and you haven't already paid up through your tax code or voluntary payments).

. You filed a self-assessment tax return last year (even if you didn't owe any tax). You'll need to do this unless HMRC has already written to you to say you don't need to file one

What if I've signed up for a repayment plan?

Those who owe tax of less than £30,000 (and more than £32) in January 2021 (so that'd be the deferred July payment and January 2021's 'on account' payment) have been able to use HMRC's 'Enhanced Time to Pay' mechanism to agree a repayment plan to spread that tax bill and repay it by direct debit over up to 12 months – even if that goes beyond the 31 January 2021 deadline.

To use this service, you need to have filed your 2019/20 tax return by the 31 January 2021 deadline and set up the repayment plan no later than 60 days after the due date of a debt. In addition, you need to have no outstanding tax returns, other tax debts, or other payment plans set up. You can set up a Time to Pay plan online through your tax account, or you can call HMRC on 0300 200 3822 (open Monday to Friday, 8 am to 4 pm).

What if I miss the deadline?

You'll be charged a £100 penalty if you fail to submit your return by the deadline – even if there's no tax to pay.

Further penalties of £10 a day are applied after three months, up to a maximum of £900. After six months, you'll get a further penalty of 5% of the tax owed or £300 (whichever is greater), which is repeated at 12 months.

There are also extra penalties for paying the tax late – these will be charged at 5% of the unpaid tax after 30 days, six months, and 12 months.

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