HM Revenue and Customs (HMRC) is waiving late filing and late payment penalties for Self Assessment taxpayers for one month – giving you extra time, if you need it, to complete your 2020 to 2021 tax return and pay any tax due. You are encouraged to file and pay on time if you can as interest will still be payable from 1 February as usual.
The deadline to file and pay remains 31 January 2022 but the penalty waivers will mean that:
- anyone who cannot file their return by the 31 January deadline will not receive a late filing penalty if they file online by 28 February
- anyone who cannot pay their Self-Assessment tax by the 31 January deadline will not receive a late payment penalty if they pay their tax in full, or set up a Time to Pay arrangement, by 1 April
Further information can be found on the HMRC website from the following link https://www.gov.uk/government/news/hmrc-gives-self-assessment-taxpayers-more-time-to-ease-covid-19-pressures
Mensis is here to help you with your Self Assessment return if you need any assistance.