HMRC has waived late filing and late payment penalties for self assessment taxpayers by one month, effectively delaying the tax return deadline to 28 February.
HMRC announced it will not give out financial penalties for late filing and late payments for self assessment tax returns which will give more time for taxpayers to complete and submit their 2020/21 tax return online and pay any tax due.
The deadline to file and pay remains 31 January 2022 however, the extension of the deadline means that anyone who cannot file their return by the end of January will not receive a late filing penalty if they file online by 28 February.
This also means that anyone who cannot pay their self assessment tax by the January deadline will not receive a late payment penalty if they pay their tax in full, or set up a time to payment arrangement by 1 April. However, interest will still be payable from 1 February as usual.
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