25 January 2021
Remember to file your tax return by the deadline of midnight on 31/01/21. If unable to pay the tax due, see page 2 of our Tax Guide on setting up a time to pay arrangement in advance of the deadline.
HMRC has announced today that Self Assessment customers will not receive a penalty for filing their 2019-20 tax return late, as long as they file online by 28/02/21. For more information see Pay your Self Assessment tax bill - GOV.UK (www.gov.uk)
However members must note that this is an extension on the filing date NOT the deadline for tax payment. You still need to pay your Self Assessment tax bill by 31/01/21 otherwise interest will be charged from 28/02/2021 on any outstanding liabilities.
Note also that it's important to file your return on time, to ensure you are eligible for the SEISS grant number 4 as you will need to have shown you have filed your 2019/20 tax return as one of the conditions for this.
For more information see Pay your Self Assessment tax bill - GOV.UK (www.gov.uk)