20/21 Self Assessment Filing Deadline Extended

HMRC have today (6 January 2022) confirmed they will be waiving late filing and late payment penalties for Self Assessment taxpayers for one month – giving extra time, if needed, to complete your 2020/21 tax return.

Whilst the deadline to file and pay remains 31 January 2022. The penalty waivers will mean that:

• anyone who cannot file their return by the 31 January deadline will not receive a late filing penalty if they file online by 28 February

• anyone who cannot pay their Self Assessment tax by the 31 January deadline will not receive a late payment penalty if they pay their tax in full, or set up a Time to Pay arrangement, by 1 April

Interest will be payable from 1 February, as usual, so it is still better to pay on time if possible.

Further information can be found here: https://www.gov.uk/government/news/hmrc-gives-self-assessment-taxpayers-more-time-to-ease-covid-19-pressures