Millions of self-employed people are still yet to file their self-assessment!

HMRC is urging the four million self-employed workers who have not yet completed their self-assessment tax return to do so as soon as possible. With the 31 January deadline just days away, the tax watchdog has said that just 7.6 million people out of more than 12.2 million have submitted their annual self-assessment for the tax year 2020/21.

 

However, the tax office announced earlier this month that it will waive the late penalties for a month for those struggling to file ahead of the January deadline. Furthermore, anyone who cannot pay their tax liabilities by the January deadline will not be fined as long as they pay their tax in full or set up a payment plan by 1 April.

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