The self-assessment tax return deadline is looming, but many Brits may not be able to submit theirs in time. The deadline applies to returns for the 2021/22 tax year, which ended on April 5, 2022.
Self-employed workers must file a tax return to HMRC by 11.59pm on January 31 or risk incurring penalties that start at £100. While there is no way to extend the deadline, the taxman will waive the penalty fee if a person has a “reasonable excuse” as to why they are late.
Adam Park, tax specialist at Zest R&D, said: “The key dates for income tax don’t change year-on-year, which makes them easy to plan for and manage. The most critical deadline, January 31, marks the end of self-assessment and payment period for income tax.
“This date poses a significant financial burden for the self-employed and those receiving dividends from their employment. With the added stress on household expenses, managing tax bills may prove to be a challenge in the current climate."
According to Mr Park, you might be able to fight a fine for missing the HMRC deadline with one of these excuses:
Your partner or another close relative died shortly before the tax return or payment deadline.
You had an unexpected stay in hospital that prevented you from dealing with your tax affairs.
You had a serious or life-threatening illness.
Your computer or software failed just before or while you were preparing your online return.
If there's a problem with the HMRC website which means you can't complete your online form.
There were problems with the post that were beyond your control.
A fire, flood or theft meant that you couldn't complete your tax return.
If you have a disability that caused you to not be able to meet the deadline.
If the HMRC sends you a penalty letter, an appeal form will come in the post too. The appeal should be sent to the HMRC's address for Self Assessment enquiries, which is: Self Assessment, HM Revenue and Customs, BX9 1AS. If you receive your penalty notice via email you can fill in an SA370 form to appeal.
