Source – HMRC
HMRC has announced that
Self-Assessment customers will not be charged the initial 5% late payment
penalty if they pay their tax or make a Time to Pay arrangement by 1 April.
The payment deadline for Self-Assessment is 31 January and interest is charged
from 1 February on any amounts outstanding. The deadline has not changed, but
this year, because of the impact of COVID 19, HMRC is giving taxpayers more
time to pay or set up a payment plan.
Payment plans or payments in full must be in place by midnight on 1 April to
avoid a late payment penalty.
HMRC recognises the pressure affecting customers due to the pandemic, and
anyone worried about paying their tax should contact HMRC for help and support
on 0300 200 3822.
The self-serve Time to Pay facility allows customers to spread the cost of
their tax liabilities into monthly instalments until January 2022. Customers
can set
up a payment plan online, on
GOV.UK.
Any Self-Assessment customers who have yet to file their tax return should do
so by 28 February to avoid late filing penalties.