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SELF Assessment tax returns are due this week and according to recent analysis, some institutions are predicting millions of self-employed workers are set to miss the deadline. Because of this, penalties may be issued en masse but even here remedial action can be taken. ....
| UPDATED: 15:26, Tue, Jan 26, 2021 Link copied Make the most of your money by signing up to our newsletter for FREE now SUBSCRIBE Invalid email When you subscribe we will use the information you provide to send you these newsletters. Sometimes they ll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time. The official deadline to submit tax deadlines falls on January 31, 2021, which doesn’t leave much time for workers who want to do this on time. Before you can complete and submit your tax return, you’ll need to have a unique taxpayer reference (UTR) and activation code. This can take a while to receive, so if it’s your first time filing taxes make sure to register as soon as possible. If you’ve already signed up for self-assessment, you can find your UTR on relevant correspondence from HMRC. ....
Which means some of those new starters, many of those people who started self-employment in the last couple of years, may finally get some provisions in this fourth grant, he commented. Martin added: One can only hope that the reason for this rather cruel delay is because there are substantial changes being made that will help more people. It s important to note applicants must keep evidence to support their claim. The third grant doesn t need to be repaid if a person is eligible, however it will be subject to Income Tax and self-employed National Insurance and it must be reported on the person s 2020 to 2021 Self Assessment tax return. ....
| UPDATED: 14:23, Fri, Jan 22, 2021 Link copied Make the most of your money by signing up to our newsletter for FREE now SUBSCRIBE Invalid email When you subscribe we will use the information you provide to send you these newsletters. Sometimes they ll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time. The Self Assessment tax return must be filed by midnight on January 31, 2021, leaving just days for Britons to act. The system is used by Her Majesty’s Revenue and Customs (HMRC) to collect Income Tax from eligible people, and is a vital date in the calendar year. However, scammers are now taking advantage of the rush to file in attempts to financially exploit Britons. ....
CHANCELLOR RISHI SUNAK has been urged to rethink the SEISS grant after a desperate year for the self-employed in the UK. But will the SEISS criteria change? ....