Home Business News Those who have not yet filed their 2021/22 tax return are being warned do so immediately

Those who have not yet filed their 2021/22 tax return are being warned do so immediately

by LLB Finance Reporter
29th Dec 22 9:48 am

The number of people using the festive break to file their 2021/22 tax returns is down by 40%, compared to the same period in the previous year, say leading tax and advisory firm Blick Rothenberg.

Nimesh Shah CEO at the firm warned, “People who haven’t yet filed their 2021/22 tax return should use the remaining few days of the holiday period to get this done.

“Get organised now by gathering the information you need. You may need to request outstanding information from your bank, pension provider or an employer so it’s sensible to get this underway as soon as you can.

“In the last two years, HMRC have extended the normal 31 January deadline by a month because of disruption due to Covid, but it’s inconceivable there will be any similar grace period offered this year. People must not rely on HMRC offering any concession this year.

“You may also be due a repayment and filing your tax return at the earliest opportunity will mean getting your refund sooner.”

He added, “Over 22,000 people used the period between Christmas Eve and Boxing Day to file their tax return, and over 3,000 people used Christmas Day itself to file their tax return – an increase of 15% to Christmas Day in 2021.

“However, the number of people filing their tax return during the festive break is down by 9,000 on the previous year, and at a similar level to 2020 when the majority of the country were confined to their homes because of the Covid lockdown.

“There is just over a month for people to file their 2021/22 Self-assessment tax return, and the festive break offers a useful break for people to file their taxes and plan for any tax payment due by 31 January 2023.”

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