HMRC Personal Tax Events – due now

17 Jan HMRC Personal Tax Events – due now

Personal Tax Events
Deadline for submitting your 2019/20 self assessment return (£100 automatic penalty if your return is late) and the balance of your 2019/20 liability together with the first payment on account for 2020/21 are also due
This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 NI, capital gains tax and High Income Child Benefit Charge liabilities.
There is a penalty of £100 if your return is not submitted on time, even if there is no tax due or your return shows that you are due a tax refund.
The balance of any outstanding income tax, Classes 2 and 4 NI, capital gains tax and High Income Child Benefit Charge for the year ended 5th April 2020 is due for payment by 31st January 2021. Where the payment is made late interest will be charged.
The first payment on account for 2020/21 in respect of income tax and any Class 4 NI or High Income Child Benefit Charge is also due for payment by 31st January 2021.
If we have already dealt with your self assessment return on your behalf you need take no action.
If not, call AK Sharma & Co Accountants Birmingham.
We’re a small and friendly, Birmingham based team of professional accountants.

AK Sharma & Co Accountants Birmingham
While our offices are closed due to the lockdown, please find us online at: https://www.aksharmaandco.co.uk