HMRC offers Self-Assessment taxpayers more time to submit and pay their 2020/21 tax obligations

self-assessment deadline easing

HMRC confirmed on the 6th January 2022 that it is waiving late filing and late payment penalties for Self-Assessment taxpayers for one month.

Recognising the pressure faced this year by Self-Assessment taxpayers and their agents, HMRC is offering them extra time, if they need it, to complete their 2020/21 tax return and pay any tax due.

Providing that tax returns are filed online by 28 February 2022, HMRC have confirmed that Self-Assessment customers will not be subject to a late filing penalty, although taxpayers are urged to file by 31 January 2022 if they are able to do so. 

In addition, taxpayers that cannot pay their Self-Assessment tax by 31 January 2022, 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 2022, however interest will still be payable from 1 February 2022.

Taxpayers who cannot discharge their tax liability in full can apply to spread their tax payments over a maximum of 12 months, however their 2020/21 tax returns will need to be filed before any payment arrangements can be made.

HMRC urged everyone to be alert if they are contacted by someone claiming to be from HMRC and highlighted the increase in fraud being seen across the country, by unscrupulous fraudsters.

HMRC encouraged taxpayers to contact them straight away and to search GOV.UK for ‘HMRC scams’ if they receive anything suspicious.

Further information can be found here.

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