{"id":5038,"date":"2023-03-01T15:14:29","date_gmt":"2023-03-01T15:14:29","guid":{"rendered":"https:\/\/www.bainesjewitt.co.uk\/blog\/?p=5038"},"modified":"2023-03-01T15:14:36","modified_gmt":"2023-03-01T15:14:36","slug":"self-assessment-taxpayers-warned-of-next-payment-deadline","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/self-assessment-taxpayers-warned-of-next-payment-deadline\/","title":{"rendered":"Self-Assessment taxpayers warned of next payment deadline"},"content":{"rendered":"<p>Taxpayers have been reminded that a penalty deadline for unpaid Self-Assessment tax is imminent.<\/p>\n<p><!--more--><\/p>\n<p>HM Revenue &amp; Customs (HMRC) will automatically add a penalty to your tax bill equal to five per cent of the Self-Assessment tax you owe for 2021\/22 which is unpaid after midnight on 2 March 2023. So urgent action is needed.<\/p>\n<p>The deadline for sending most online 2021\/22 Self-Assessment returns to HMRC, and for paying the related tax, was 31 January 2023.<\/p>\n<p><strong>More time<\/strong><\/p>\n<p>Due to the coronavirus pandemic, HMRC had previously allowed taxpayers more time to file their tax returns and pay the tax before charging penalties.<\/p>\n<p>There was no such relaxation this year and taxpayers should have filed their returns for 2021\/22 tax return online and paid what was owed by the end of January.<\/p>\n<p>Taxpayers who had not settled their unpaid tax by that date have started to accrue late payment interest.<\/p>\n<p>Taxpayers who have difficulty paying the tax due may be able to\u00a0<a href=\"https:\/\/www.gov.uk\/difficulties-paying-hmrc\/pay-in-instalments\">arrange a payment plan online<\/a>.<\/p>\n<p><strong>Interest charges<\/strong><\/p>\n<p>Individuals who want to make regular monthly or weekly payments towards their tax bills are also able to set up a<a href=\"https:\/\/www.gov.uk\/pay-self-assessment-tax-bill\/pay-weekly-monthly\">\u00a0budget payment plan<\/a>\u00a0with HMRC online. Late payment interest will continue to apply to the balance that remains outstanding.<\/p>\n<p>For returns that remain unsubmitted, daily penalties will kick in if a return has not been filed online by 1 May 2023.<\/p>\n<p>According to HMRC figures, more than 11.7 million taxpayers filed their tax returns before the 31 January 2023 deadline, but 600,000 taxpayers still missed the deadline.<\/p>\n<p>HMRC was expecting around 12.1 million tax returns to be filed for the 2021\/22 tax year. Of these expected returns, 11.4 million were submitted on time, along with 0.3 million unsolicited returns and late registrations.<\/p>\n<p><strong>Need advice with Self-Assessment and related tax matters? Contact us today.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Taxpayers have been reminded that a penalty deadline for unpaid Self-Assessment tax is imminent.<\/p>\n","protected":false},"author":2,"featured_media":5040,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,30,25,4,7,32],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/5038"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=5038"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/5038\/revisions"}],"predecessor-version":[{"id":5039,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/5038\/revisions\/5039"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media\/5040"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=5038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=5038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=5038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}