HMRC gives Self-Assessment taxpayers a Penalty Waiver

Late filing and late payment penalties are to be waived for one month for Self-Assessment taxpayers.

The deadline to file a tax return is extended from 31st January 2022 to 28th February 2022.

Penalty Waiver

  • Anyone who cannot file their return by the 31 January deadline will not receive a late filing penalty if they file online by 28 February
  • Anyone who cannot pay their Self-Assessment tax by the 31 January deadline 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

Interest will be payable from 1 February, as usual, so it is still better to pay on time if possible.

This year, like last year, HMRC is not charging late filing penalties for a month to help taxpayers and agents who are unable to meet the deadline. Late filing penalties will not be charged for online tax returns received by 28 February.

For source article from GOV.UK, click here