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Self assessment has been with us long enough for the date to be well known. Why wait until the deadline (or one day after) to consider filing. There was nothing to gain and a payment now arises.
Why? Because the legislation (SI 2003/2682 Reg 186) states “before 31 December”.
It’s not exactly a new thing!
Yeah - true, but that doesn't really answer the question of why the legislation doesn't say "before 1st January", which would give a more logical end-of-month deadline.
After all, it's now been made clear that the deadline for submitting your SA return is 31st January. 1st February will not do any more. Legislation needed to be changed to tidy that up.
Personally, I think it's a deliberate plot to catch folk out.
I understand it is owing to HMRC’s administrative constraints. From the horses’s mouth:
“[The deadline] allow[s] the underlying capture processes to post the data to the SA record before the Annual Coding run takes place.”
The annual coding run takes place in the first week of January.
Presumably, HMRC’s system requires the data to be submitted no later than 30/12 such that they can use 31/12 to post the data to the SA record before the annual coding run commences on 1/1.
I understand it is owing to HMRC’s administrative constraints. From the horses’s mouth:
“[The deadline] allow[s] the underlying capture processes to post the data to the SA record before the Annual Coding run takes place.”
The annual coding run takes place in the first week of January.
Presumably, HMRC’s system requires the data to be submitted no later than 30/12 such that they can use 31/12 to post the data to the SA record before the annual coding run commences on 1/1.
Sorry. I don't accept that they couldn't start the task a day later.
I definitely don't accept that they all pile in to work on New Year's Day. Or that they'll not be dashing off home early on New Year's Eve. If, indeed, they come in at all.
I nearly did! Thought Id complete a clients return on Monday to "beat the deadline" although his records only came in just before Christmas so I didnt have too. Was very disappointed to see the 30th! Didnt check if that's always the case or if its nearest Sunday to year end?
In the end, they had coded his extra income out anyway and the balance was tiny, so it didnt matter. Lucky turn of events.
You weren't the only one puzzked on Monday.