There has been some good news from the HMRC. Due to the coronavirus (COVID-19) pandemic, if you missed the 31st of January deadline to submit your self-assessment tax return, you’ll not get a late filing penalty as long as you submit your online return by 28 February.
You'll still need to pay your tax bill and they will charge interest on any amounts owed, calculated from the 1st of February if your payment is late. You'll also be charged a late payment penalty if you haven’t paid in full by the 2nd of March.
You are able to pay your self-assessment tax bill in instalments if you are having difficulty paying but to avoid a late payment penalty you need to have agreed that with them by the 2nd of March.
We are accountants based in West Bridgford, Nottingham who help clients right across the UK. If you're struggling to complete your self-assessment tax return we can help you too. Get in touch.
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