Self-assessment reminder to declare Covid-19 payments

Those who file for self-assessment are being reminded to make sure they include any Covid-19 payments on their 2021 to 2022 tax return.

According to HMRC figures, more than 2.9 million people claimed at least one Self-Employment Income Support Scheme (SEISS) payment up to the 5^th of April 2022.

These grants are taxable and should be declared on tax returns for the 2021 to 2022 tax year before the deadline on the 31^st of January 2023.

For reference, the SEISS application and payment windows during the 2021 to 2022 tax year were:

• SEISS 4: 22^nd April 2021 – 1^st June 2021
• SEISS 5: 29^th July 2021 – 30^th September 2021

Myrtle Lloyd, HMRC’s Director General for Customer Services, commented, “We want to help customers get their tax returns right, first time. We have videos and guidance available online to support you with your Self Assessment. Search ‘help with Self Assessment’ on GOV.UK to find out more.”

With more than 66,000 taxpayers submitting their tax return on the first day of the new tax year, HMRC is encouraging others to complete theirs as soon as they can so they know what they owe and can budget to make the payment by the deadline date.

Completing it earlier also means that if a repayment is due, it can be claimed back sooner.

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.