HMRC has announced today that late filing penalties for 2019-20 Self Assessment returns will not be incurred so long as returns are filed online by 28th February 2021.
Self Assessment tax bills remain payable by 31st January. Payment can be made online, through a bank or by post, prior to the filing of a tax return. Interest will be charged from 1st February on any outstanding liabilities.
Regardless of this, we are still working towards filing all our clients’ tax returns by the statutory filing deadline of 31st January wherever possible.
Those struggling to meet tax return payments may be able to set up a plan to pay the amount in monthly instalments. In this event, you will need to file your 2019-20 tax return before seeking to set up a time to pay arrangement.
More information is available on GOV.UK.