Thursday, 6 January 2022

HMRC gives Self Assessment taxpayers more time to file their tax return to 28 February 2022

HM Revenue and Customs (HMRC) has today announced it is waiving late filing and late payment penalties for Self Assessment taxpayers for one month (from the 31st January 2022 to the 28th February 2022) – giving them extra time, if they need it, to complete their 2020 to 2021 tax return and pay any tax due. This effectively delays the tax return deadline to the 28th February 2022. 

HMRC has advised that it recognises the pressure faced this year by Self Assessment taxpayers and their accountants due to COVID-19. The penalty waivers give taxpayers who need it more time to complete and file their return online and pay the tax due without worrying about receiving a penalty.

The deadline to file and pay remains 31 January 2022.  However, the penalty waivers will mean that:

-anyone who cannot file their return by the 31 January 2022 deadline will not receive a late filing penalty if they file online by 28 February 2022

anyone who cannot pay their Self Assessment tax by the 31 January 2022 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 2022

Interest will be payable from the 1 February 2022, as usual, so it is still better to pay on time if possible.

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