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‘Tis the Season ….to Get Ready

Did you know that, according to HMRC, more than 2800 taxpayers filed their Self-Assessment returns (or should that be ‘elf Assessment returns) on Christmas Day in 2021? We do hope you were able to celebrate the Christmas holiday in a more festive way, however, as we start a new year we would like to remind you of some important deadlines coming up in the early part of 2022.

31 January 2022: Self-assessment tax returns for 2021/22 must be submitted by midnight on 31 January. Due to the pressure faced again this year by Self Assessment taxpayers, HMRC have provided a little extra time before taxpayers will receive a late filing penalty. You can find out more here.  If you require any help with your tax return, please get in touch as soon as possible.

1 April 2022: From this date all UK VAT-registered businesses must be MTD for VAT compliant, regardless of turnover. You can find more information here, or get in touch with our VAT team who will be happy to provide further guidance.

5 April 2022: This marks the end of the tax year and the date by which you must have used your 2021/22 reliefs and allowances. Some useful tax tips can be found here in our Year End Planning article.

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