SA returns filed before 28/02 will not incur a late filing penalty

Posted on Jan 27 2021

HMRC has announced that they will not issue an automatic penalty for the late filing of 2019-20 self-assessment tax returns, provided they are filed online by 28 February.

Please note that customers still need to pay their self-assessment tax bill by 31 January. Interest will be charged from 1 February on any outstanding liabilities. Customers can pay online, or through their bank, or by post before they file.

HMRC advises that: ‘If any customer cannot afford to pay by 31 January, they may be able to set up an affordable plan and pay in monthly instalments. But they will need to file their 2019-20 tax return before setting up a time to pay arrangement.’

About the Author

Martin Johnson

Partner

With expertise in advising family-owned companies on a range of tax, accountancy and business issues, Martin also has an in-depth knowledge of the automotive and property sectors. In addition, he provides advice on inheritance tax planning and financial management to owner-managed businesses. Martin leads the firm in developing its expertise in the buy-to-let sector, advising both residential and commercial property owners on relevant tax and legislation issues. A further element to Martin’s role is to build Torgersens’ relationships with banks, financial advisors and specialists in commercial and employment law to ensure that the firm’s clients have access to market-leading guidance.

To get in touch please e-mail martin.johnson@torgersens.com.