Date posted: 9th Jan 2023
The deadline for completing your 2021/22 self assessment tax return is 31 January 2023.
If the tax return is not completed prior to this date, you will receive a £100 late filing penalty for missing the deadline. Where the delay in filing the tax return continues, daily £10 penalties will apply from 1 May 2023.
Any balance of tax due for 2021/22 should be paid by 31 January 2023, as well as the first advanced payment on account for 2022/23, if this is due. Interest is charged on late payments and there is an initial tax geared penalty if the tax due for 2021/22 is not settled by 28 February 2023.
There are further late payment penalties chargeable where the tax continues to remain unpaid.
If you are unsure whether you need to complete a tax return, our FAQ’s at https://www.cliveowen.com/services/tax/ will help.
As ever, we are available to help with self assessment queries, tax return completion and such matters. Please give us a call.