What are the filing deadlines?
As well as being Halloween, 31st October 2021 is also the filing deadline for submitting your paper Self-Assessment returns.
The Self-Assessment Filing Deadlines are
- Midnight 31st October 2021 - 2020/21 Paper Returns
- Midnight 31st January 2022 - 2020/21 Electronic Returns
If you are filing on paper and miss the deadline this week, you will either;
- Have to pay a £100 late filing penalty, or
- Arrange submission of your return electronically before 31st January 2022.
The deadline to pay any tax liability due is 31st January 2022, whichever way you file your return. More details on the deadlines can be found here.
Is filing electronically better?
Your tax liability will be the same whether you file on paper or electronically, so the decision to go one way or the other is largely a personal choice.
However, we would always recommend that you consider the benefits of filing your return electronically. This includes;
- Getting an additional three months (until 31 January 2022) in which to submit your return.
- Instant confirmation that a return has been filed and received by HMRC.
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