What UK tax returns & taxes are due in 2021-22?
UK self assessment tax returns for 2020/21 became due in April for the period 6th April 2020 - 5th April 2021. The final tax return is due online by 31st January 2021 however if you submitted a tax return for the previous year then you may have payments on account to make twice a year; by 31st July and 31st January .
So long as your returns are up to date then HRMC will have notified you about payments due. If they haven’t notified you, and you are up to date, nothing it due.
Expats with UK or Property Rental income or capital gains tax liabilities would have a tax return liability and possibly tax is due, with payment falling in July if reoccuring.
Residential property sales by expats always suffer capital gains tax, however other capital gains from investments, Crypto, commerical property can be exempt from a UK charge of capitla gains tax. However the capital gains event must still be reported a tax return.
Tax residency is a big issue in 2021 due to the fragmented nature of travel arrangements and remote working. Unintentionally an expat could have become liable to a tax return in the their country of residence over the last 18 months.
Key Dates
6 April 2021 – 2021/22 tax year begins.
31 July 2021 – Second payment on a for 2020-21 income tax
31 October 2021 – Deadline for postal submissions of self assessment tax returns for 2020-21 tax year to be received by HMRC
31 January 2022 – Deadline for filing 2020-21 self assessment tax returns
Balancing payment of tax due for 2020-21 and first payment on account for income tax for 2021-225 April 2022 – 2021-22 tax year ends
For a Free online review of you tax residency for last and this tax year contact us.
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