No late filing penalty

By Mike Smith Individuals No Comments on No late filing penalty

HMRC has announced Self-Assessment taxpayers who cannot file their tax return by the 31 January 2021 deadline will not receive a late filing penalty if they file online by 28 February.

Taxpayers are still obliged to pay their bill by 31 January. Interest will be charged from 1 February on any outstanding liabilities.

Anyone who cannot afford to pay their tax bill on time can apply online to spread their bill over up to 12 months. They will need to file their 2019 to 2020 tax return before setting up a time to pay arrangement, so HMRC is encouraging everyone to do this as soon as possible.

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