If you submit a paper tax return it is important to start the process now as the deadline to file your 2020 to 2021 figures and pay anything owed to HM Revenue and Customs (HMRC) is 11.59pm on Sunday, October 31.
While this might seem like plenty of time, gathering all of the relevant documents can be a slow process, especially if you have faced disruption to your work due to the coronavirus pandemic, but anyone who misses the Halloween deadline faces a £100 fine.
James Andrews, senior personal finance expert at money.co.uk, said: “We all know that one of the main drawbacks of being self-employed is being forced to report your income and pay tax to HMRC.” He explained how anyone submitting their tax return online has until the new year,
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