Her Majesty’s Revenue and Customs (HMRC) has advised people to complete and submit their self-assessment tax return early, and have urged people to be cautious of tax-related correspondence to avoid phishing scams.

The deadline for submitting the finalised self-assessment tax return for 2019-2020 is 31st January 2021. However, the earlier it is completed, the more time is available to set up a payment plan or pay the tax bill.

January is traditionally an extremely busy time for submitting tax returns, with the deadline for paying your tax bill at the end of the month.

As a result, there is a marked increase in the number of opportunistic scammers who take advantage of the rush by sending scam messages in an official-looking form, usually requesting either private information or money.

HMRC have a system in place for reporting suspected phishing and scam websites.

The best course of action to avoid scammers and unwanted issues to tax applications is to not delay on starting your tax return and getting in touch with tax planning accountants if you have any questions about the tax you should expect to pay.

Self-assessment tax returns need to be paid if you are self-employed as a sole trader, a business partner or you have other forms of untaxed income.

Gov UK has a helpful tool to check if you need to send a tax return. However, if you:

• Have earned more than £1,000 this year as a sole trader;
• Have claimed more than £2,500 in expenses;
• Have earned more than £2,500 in property rents;
• Have received more than £2,500 from tips, commissions or other untaxed income;
• Have earned taxable income overseas;

you will need to complete a self-assessment tax return.