HMRC has announced that it will waive late filing self-assessment penalties for one month, giving people extra time if needed to complete their 2020/21 tax return and pay any tax due.
Commenting on the announcement, Frank Haskew, ICAEW Head of Taxation Strategy, said:
“We have been urging HMRC to give self assessment taxpayers and their agents more time, so we are very pleased with this decision which will help people and tax agents who are dealing with continued disruption caused by COVID-19.
“As the deadline hasn’t changed we want to remind people to submit their self assessment return as soon as possible. While having an extra month before facing penalties will be very helpful to many taxpayers, they should be aware that late payment interest will still be charged.”