ALMOST 66,500 FILED SELF ASSESSMENT RETURNS ON 6 APRIL

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Nearly 66,500 taxpayers filed their 2021/22 self assessment return on the first day of the new tax year, according to figures from HMRC.

In recent years, there has been an increasing number of ‘early-bird’ customers filing their completed self assessment tax returns at the start of the new tax year – almost 30,000 more customers filed their returns on 6 April this year, compared to 2018.

HMRC is encouraging others to change their filing habits and do it as soon as they can. Although many wait until nearer the annual filing deadline on 31 January, for some it is an opportunity to beat the last-minute rush and get it done as soon as they can, while they have the relevant information to hand.

Myrtle Lloyd, HMRC’s Director General for Customer Services, said:

‘You don’t need to wait for the January rush to send us your tax return. More and more people are getting theirs out of the way early – search ‘self assessment’ on GOV.UK to get started.’

LATEST HMRC GUIDANCE FOR EMPLOYERS

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HMRC has published the latest issue of the Employer Bulletin. The April issue has information on various topics including:

  • Forthcoming deadlines
  • Claiming employment allowance from April 2022
  • Student loans
  • Coronavirus updates and information
  • Official rate of interest
  • Hybrid working.

Small businesses are being invited to share their views of the tax system through the Tell ABAB 2022 survey.

You can also feedback on the UK central government complaints standards by participating in a survey launched by the Parliamentary and Health Service Ombudsman.

Please contact us for help with tax matters.

Internet link: Employer Bulletin

HMRC STARTS CHASING UP SEISS OVERPAYMENTS

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HMRC has started to recover overpayments of Self-employment Income Support Scheme (SEISS) grants.

From April, HMRC is writing to taxpayers whose entitlement to the fourth or the fifth SEISS grant has reduced by more than £100 to ask them to repay amounts that were overpaid.

Entitlement to the fourth and fifth SEISS grants can be affected by an amendment to a tax return. HMRC’s letters include an assessment and a date by which you must make the repayment. If the payment is over 30 days late, a late payment penalty of 5% of the unpaid tax will be applied.

Even if you do not receive a letter, you must tell HMRC within 90 days if an amendment to a tax return affects your entitlement.

Anyone who needs to repay grants can make use of HMRC online tools to help them calculate what they owe. Individuals who receive a letter from HMRC are required to use the payment reference beginning with X when making their repayment.

If you are not able to pay in full, you may be able to set up a Time to Pay arrangement with HMRC.

Internet links: GOV.UK