Top Service News
HMRC extends date to complete tax self-assessment by a month
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HM Revenue & Customs has extended the 2019-2020 tax self-assessment deadline by a month, until 28 February to further support businesses and individuals facing difficulties as a result of the pandemic.
The official deadline for completing a self-assessment tax return remains Sunday 31 January, after which a £100 late filing penalty would be automatically imposed. However, as a result of the extension, those who file after 31st January 2021 will not receive a late filing penalty, provided their return is submitted by 28 February.
Taxpayers are still obliged to pay their bill by 31 January 2021 for the tax year 2019-2020. Interest will be charged from 1 February on any outstanding liabilities. Taxpayers who cannot afford to pay their tax bill on time can apply online to spread their bill over 12 months. But they will need to file their 2019 to 2020 tax return before setting up a time to pay arrangement.
Emma Miller, Top Service Company Director says:
“The extension of deadlines being offered across the board for businesses is welcomed by many. Our advice to businesses is to not leave any filing for HMRC or Companies House until the last minute. Particularly with Companies House so they can process submissions in time for any deadlines.”
For further information and to read the full HMRC press statement please click here.