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Final two SEISS payments worth up to £7,500 each must be included in Self-Assessment tax return
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dailyrecord.co.uk
dailyrecord.co.ukThe deadline for submitting online returns and paying any tax owed to HM Revenue and Customs (HMRC) is midnight on Tuesday, January 31.
Just over 12 million taxpayers are expected to have filed their returns online by the end of today, however, people failing to submit their Self-Assessment or pay any tax owed after January 31 may face a penalty.
The penalties for late tax returns include an initial £100 fixed fine, which applies even if there is no tax to pay, or if the tax due is paid on time, although HMRC has said it will treat those with genuine excuses leniently.
People who are unable to pay what they owe in full may be able to set up a payment plan through Time to Pay, allowing them to spread the cost into monthly instalments.
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