Self Assessment Filing Deadline Extended
HMRC have today confirmed an extension for the submission of 2019-20 tax returns.
Providing that tax returns are filed online by 28 February 2021, HMRC have confirmed that self-assessment customers will not be subject to a late filing penalty, although tax payers are urged to file by 31 January if they are able to do so.
Taxpayers are still required to pay their Self Assessment tax bill by 31 January, with interest being charged from 1 February on any outstanding liabilities.
Taxpayers who cannot discharge their tax liability in full can apply to spread their tax payments over a maximum of 12 months, however their 2019-20 tax returns will need to be filed before any payment arrangements can be made.
Further information can be found here: https://www.gov.uk/government/news/no-self-assessment-late-filing-penalty-for-those-who-file-online-by-28-february