Self Assessment deadline delay ‚Äď could you still be charged?

You still needed to send HMRC your 2020/21 Self Assessment tax return and pay any tax owed by 31 January, but due to coronavirus they announced they will waive late filing/payment penalties for tax returns submitted before midnight on 28 February if you can‚Äôt. Tax returns treated as being received late have the following downsides: […]

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Getting to Grips with Grants and your Self Assessment

The Self-Employed Income Support Scheme (SEISS) has been a lifeline to many sole traders during the coronavirus pandemic. Provided they‚Äôve met the necessary criteria, these individuals have been supplemented with up to 80% of their average trading profits. However, these grants are taxable ‚Äď meaning that they‚Äôre subject to Income Tax and National Insurance contributions […]

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