{"id":5124,"date":"2022-03-23T09:00:00","date_gmt":"2022-03-23T09:00:00","guid":{"rendered":"http:\/\/my-brains.co.uk\/jackross\/?p=5124"},"modified":"2022-03-28T11:32:52","modified_gmt":"2022-03-28T10:32:52","slug":"deadline-for-self-assessment-missed-by-millions","status":"publish","type":"post","link":"https:\/\/my-brains.co.uk\/jackross\/deadline-for-self-assessment-missed-by-millions\/","title":{"rendered":"Deadline for Self-Assessment, missed by millions"},"content":{"rendered":"\n

More than two million people missed the self-assessment tax return deadline on 31 January 2022, according to HMRC. <\/strong><\/p>\n\n\n\n

The tax authority said more than 10.2 million returns were filed ahead of the original deadline. This has left around 2.3 million still to file.<\/p>\n\n\n\n

\"Deadline\"<\/a><\/figure><\/div>\n\n\n\n

Late-filers had until 28 February 2022 to file their 2020\/21 tax returns online before being fined. This was due to pressures ensuing from the pandemic. <\/p>\n\n\n\n

However, interest on outstanding tax bills is accruing at 3%. In addition to this HMRC\u2019s late-filing penalties regime kicks in as usual from 1 March 2022. <\/p>\n\n\n\n

Late-paying taxpayers have until 1 April 2022 to pay their tax bills in full or set up a time-to-pay arrangement. <\/p>\n\n\n\n

These arrangements spread the cost of repaying tax bills of up to \u00a330,000 into manageable monthly instalments, usually over a period of up to 12 months. <\/p>\n\n\n\n

A 5% late-payment penalty will be charged if tax is not paid or a payment plan has not been set up by midnight on 1 April 2022. <\/p>\n\n\n\n

Myrtle Lloyd, director-general for customer services at HMRC, said:<\/p>\n\n\n\n

\u201cI\u2019d like to thank the millions of customers and agents who sent us their tax returns and paid in time for January\u2019s deadline.<\/p>\n\n\n\n

\u201cCustomers can set up a monthly payment plan online if they\u2019re worried about paying their tax bill.\u201d<\/p>\n\n\n\n

More than 10.2m people filed their 2020\/21 tax returns on time, down from 10.7m last year.<\/p>\n\n\n\n

Do you need to start preparing for next year’s Tax Return? Our accountants can do all the hard work for you. Please leave your details below for a free consultation. <\/p>\n\n\n

\n Blog Enquiry Form<\/legend>