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
Self-Employment Income Support Scheme (SEISS) – Fourth Grant now Available to Claim
The Chancellor has announced further support for the Self-Employed, by making a fourth and fifth grant available under the Self-Employment Income Support Scheme (SEISS). The fourth grant, covering the period February to April 2021 will be worth 80% of average profits...
Tax Rates and Allowances 2021/22
Introduction We have summarised the key rates and allowances which are fundamental to our business and personal lives. We are sure that you will find them a useful point of reference and have set out below a few examples of how they can be used. Personal tax rates As...
Budget 2021
Budget 2021 The Chancellor Rishi Sunak presented his second Budget on Wednesday 3 March 2021. In his speech, he stated his Budget 'meets the moment with a three-part plan to protect the jobs and livelihoods of the British people'. Main Budget proposals Tax measures...
Budget 2021: When is the Budget?
The Chancellor Rishi Sunak will deliver his 2021 Budget on Wednesday 3rd March 2021. What time is the Budget? The Budget is expected to take place at about 12:30 pm, straight after PMQs. The first part of the statement typically begins with a review of the...