Lentells Limited

CHARD 01460 64441 | SEATON 01297 20584 | TAUNTON 01823 286274 | PAYROLL 01460 68700
chard@lentells.co.uk | seaton@lentells.co.uk | taunton@lentells.co.uk | payroll@lentells.co.uk

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Tuesday, 03 January 2023 14:45

Time is running short for outstanding tax returns

The 31 January deadline for submission of 2021-22 Self-Assessment tax returns, covering the year ended 5 April 2022, is fast approaching with only 4 weeks let to file until the deadline. 

 

Last year over 2.3 million taxpayers missed the deadline, leading to the automatic issue of an initial penalty of £100 which increases the longer the delay. Any tax returns that remain outstanding need to be submitted online, since the 31 October 2022 deadline for submitting a paper form has now passed.

 

If there is any tax owed for 21/22, this will also need to be paid by 31 January 2023, and if required, the first payment on account due towards 2022/23 will also need to be paid at the same time. Interest will be charged on any tax not paid on time, with an additional 5% surcharge on any tax overdue at 30 days, 6 months and 12 months. If you are unlikely to be able to meet any tax payments when they are due, it is best to contact HMRC as soon as possible to arrange a payment plan, which will then mitigate any penalties due. 

 

A self-assessment tax return is likely to be needed if you have complex affairs, capital gains above the personal allowance, let property income, self-employed income or need to repay child benefit. If you are unsure whether a tax return is required, please contact your local Lentells office; 

Chard - 01460 64441, This email address is being protected from spambots. You need JavaScript enabled to view it. 

Seaton - 01297 20584, This email address is being protected from spambots. You need JavaScript enabled to view it.

Taunton - 01823 286274, This email address is being protected from spambots. You need JavaScript enabled to view it. 

Last modified on Tuesday, 03 January 2023 15:55

        

 
 

Chard Office

17-18 Leach Road 
Chard Business Park 
Chard
Somerset 
TA20 1FA

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01460 64441

Seaton Office

Kingsway
50 Fore Street
Seaton
Devon
EX12 2AD

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01297 20584

Taunton Office

Ash House, Cook Way
Bindon Road
Taunton
Somerset
TA2 6BJ

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01823 286274