HMRC announces no late filing penalty for Self-Assessment Tax Returns until 28th February

HMRC have extended the Self Assessment Tax deadline from the 31^st January 2021 until 28^th February 2021, to help benefit people and businesses effected by the pandemic.

The decision was made following concerns that over three million people were yet to file their 2019/20 tax return, and would inevitably incur the £100 late filing penalty. As a result no penalty will be charged as long as all is submitted online by 28^th February 2021.

Although an extension has been granted, HMRC are still encouraging people to file by the original date, as interest will still be applied to any outstanding amount from 1^st February.

If you require any assistance or guidance regarding any of the above, feel free to contact a member of Team SAS, or for more information visit Gov.co.uk 

*All information provided accurate as of January 2021