The deadline for all personal tax returns for the year ended 5th April 2019 is 31st January 2020 and all returns must be submitted by that date.
Late filing can lead to penalties of over £1,000.
If your return has not been submitted yet, or is not in hand, please contact us immediately.
Paying your Self-Assessment Tax
Any tax arising for the year must be paid by 31st January 2020
We recommend that you use the instructions here – https://www.gov.uk/pay-self-assessment-tax-bill/overview – to identify ways of paying your tax liability.
Your paying reference is your 10 digit tax reference (“UTR”, as it is often called) plus the suffix “k”. If using the online payment method, select “Cumbernauld”, if required.
For example, if you reference number is 1234567890, your payment reference will be 1234567890k.
Please do not use this example reference to pay your tax!
- HMRC will automatically charge interest at 3.25% per annum from 1st February on all late payments
- HMRC will add a fixed 5% surcharge to all unpaid tax outstanding at 28th February
- Paying late can increase the risk of being selected by HMRC for investigation
Personal Tax Account
If you have not already set up your Personal Tax Account with HMRC, I can recommend that you do so. You can follow this link: www.gov.uk/personal-tax-account.
Once you have set up an account, you can easily track your current tax liability, as well as accessing a host of other services.
This should also help you identify how much tax is payable on 31st January.
We recently experienced minor issues with our emails, which has now been resolved thanks to our good friends at First Stop IT Ltd.
If you have emailed us but not received a response, please firstly check your spam email folder, and if still nothing then please call the office.
We strongly advise you to seek appropriate advice before taking action on any of the points listed above.
All information contained in this document are correct at the time of writing. Legislation and regulations may change at any time.
If you are in any doubt, please call us for clarification.
About us: Leggate Associates Limited was formed by Andrew Leggate LL.B FCMA FCA CGMA who has over 35 years of tax and accountancy experience in industry and practice, and the practice is managed by Joanne Leggate FMAAT, ATT (Fellow). Our clients range from building subcontractors to multi-million pound concerns and high net worth individuals all over the UK. Please see our website www.leggateassociates.co.uk or follow @LeggateAssoc on Twitter for occasional updates.
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