The individuals who are not able to file the self-assessment tax return by 31st January will not receive a penalty for late online tax return if it is filed on/or before 28th February 2021.
Individuals are still obliged to pay their bill by 31st January. Interest will be charged from 01st February 2021 on any outstanding liabilities.
Individuals who cannot afford to pay their tax bill on time can apply online to spread their bill over up to 12 months. self assessment tax returnsTax return for tax year 19.20 has to be filed before setting more time to pay arrangement. It takes at least 48 hours after the tax return has been filed before you can setup Time to Pay arrangement online. Interest is payable on Time to Pay instalments.
Normally, late filing penalties are applied to all returns filed after the 31 January deadline. Penalties would have cancelled if the customer had a reasonable excuse for late filing. This year HMRC is not issuing late filing penalties for a month to help individuals who are unable to meet the deadline.
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