HMRC has confirmed that the deadline for those filing their 2019-20 Self-Assessment tax returns online has been extended from 31 January 2021 to 28 February 2021. Taxpayers will not receive an automatic £100 late filing penalty if they file their 2019-20 return online by 28 February 2021.
However, it is important to be aware that the deadline for tax payments has not been extended and remains at 31 January 2021. Therefore, taxpayers should still make payment of their liabilities by 31 January 2021, if possible, to avoid incurring late payment interest.
Taxpayers who are not able to make full payment of any liabilities owing by 31 January 2021 may be able agree a ‘Time to Pay’ arrangement with HMRC (though please note that late payment interest will still be charged if this is agreed). The 2019-20 tax return must be submitted before applying to HMRC for a Time to Pay arrangement.
Read the full government announcement here
How can we help?
At Hawsons we have a dedicated team of personal tax accountants at our offices in Sheffield, Doncaster, and Northampton. We provide a broad range of personal tax services and tax advice to suit your needs. From self-assessment tax return preparation and submission to advice on working overseas, remuneration strategies, and Capital Gains Tax planning.
More similar articles
Agricultural Property Relief – Changes Ahead
Government initiatives often shape the landscape of various sectors, and agriculture is no exception. Recent developments in the UK's environmental policies are set to bring significant changes to agricultural property relief (APR). Background In 2023, the UK...
Spring Budget 2024 Summary
Spring Budget 2024 Summary Chancellor Jeremy Hunt delivered his ‘Budget for Long Term Growth’ on Wednesday 6 March 2024. His speech promised ‘more investment, more jobs, better public services and lower taxes’. Lowering taxes The Chancellor made further changes to...
Spring Budget 2024 – Key Tax Announcements
Today, Chancellor Jeremy Hunt announced his 2024 Spring Budget where he summarised the UK economic performance and announced his proposals for tax. We highlight below some of the key tax changes announced. National Insurance Contributions cut From April 2024,...
Government U-turn on double cab pickup tax
Government U-turn on double cab pickup tax After just one week the government has u-turned on plans to classify double cab pickup trucks as cars for tax and VAT purposes which would have resulted in huge tax increases. This U-turn comes after huge criticism from...