Self Assessment Payments on Account - A Reminder.
For those of you who were due to make a payment on account of your self-assessment tax bill on 31 July we wanted to remind you of the concession introduced by HMRC as part of the Covid-19 measures. Normally this payment in relation to the 2019-2020 tax year would be due by 31st July 2020. However HMRC have deferred the due date to 31st January 2021.
Some clients may be receiving statements from HMRC that give the payment date as 31st January 2021 and we can confirm that this date is correct.
We would stress that if you are able to make the payment by 31st July 2020 then you can do so. If possible you may want to do this, or to pay as soon as you are able, to help smooth out your tax cash flow since we do not expect any deferment of the payments normally due on 31st January 2021 and 31st July 2021.
We would also stress that you still need to submit your Self Assessment Tax Return on time!
For more information, support and advice in relation to the measures available to support businesses contact us on 01942 760500 or e-mail email@example.com