New Rules To Claim Tax Refunds UK
This article lists important deadlines to adhere to when submitting your 2019 tax refunds; UK has introduced some changes for the new tax year and you need to get updated in order to avoid delays and penalties and claim your UK tax return on time.
Deadlines to Claim your UK Tax Refunds
31st July 2019 – this deadline is applicable if you are self-employed and use payment on account for your tax submissions; in which case the 31st of July is your deadline for the second payment. Your payment amount will depend on your 2017/18 earnings. A balancing payment will be due by 31st January 2020, if your earnings were more in 2018/19; which invariably is also time for you to make that first tax payment for the 2019/20 tax year. If it all sounds rather confusing and tedious to keep up, enlist the help of our qualified tax accountants to ensure the smoothest method for ensuring your tax records are in order and you avoid and late submission penalties. Besides, a dedicated tax consultant will make sure your UK tax returns are up to date.
Related Post:2019 UK Tax Allowance
31st October 2019 – for those of you filing paper tax returns, here’s your deadline. This applies if you are filing a tax return or are requesting HMRC to do the calculations. If HMRC issues a notice that you file a tax return by 31st July, you must submit the form within 3 months.
30th December 2019 – If you pay tax via PAYE (pay as you earn) plus file your tax returns in the UK online, you have the option of claiming overpaid UK tax deducted via the PAYE system. In this case, provided your tax bill is less than GDB 3000, 30th December is the deadline to file your UK tax returns.
31st January 2020 – If you are filing tax returns online, this is your final deadline. That is unless HMRC issues a notice to make your online tax returns after 31st October 2019; in which case you have up to 3 months. 31st January is also the deadline to pay tax filed by paper or online.
Related Post: New UK Tax filing rules – 2019