Catch That Worm!
Did you know that 63,500 early bird taxpayers filed their 20/21 tax returns (for the year ended 5th April 21) on 6th April!
Also, as of May 21 HMRC had received 950,000 20/21 tax returns!
The early birds are certainly going for those worms, HMRC urge people to file their returns promptly, but why bother?
As Myrtle Lloyd HMRC Director General for Customer Services says:
“There are many advantages to completing your self-assessment return sooner rather than later, not least, if you are due a tax refund…you’ll get your money in a few days“
The deadline for filing 20/21 tax returns is 31 January 2022 but there are two more good reasons we can think of for filing your return early :
- Peace of mind, the job is done
- It enables you to manage your tax bills and plan your finances better.
And don’t forget….
COVID 19 may affect your 2020/21 tax return –if you were self-employed in 2020/21 and received payments under the Self-Employed Income Support Scheme these are taxable payments in the 2020/21 tax year and should go on your tax return.
Call us for help and advice 0121 794 2289 contact us
Be the early bird and then relax and enjoy your worm!