Late announcement from HMRC! No self-assessment late filing penalty!
Accountancy bodies have been lobbying HMRC for some time to extend the self-assessment filing deadline as agents have had to cope with extra pressures of government support schemes like furlough.
“This year HMRC is not issuing late filing penalties for a month to help taxpayers and agents who are unable to meet the deadline. Late filing penalties will not be issued for online tax returns received by 28 February.”
It has become increasingly clear from the filing rate that some taxpayers and agents cannot file on time, and the department has now determined that ensuring no customer will receive late filing penalties if they file online before the end of February is the best way to help them.
Taxpayers are still obliged to pay their bill by 31 January, HMRC said, “Interest will be charged from 1 February on any outstanding liabilities.”
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