Government Help for 2020 Self-Assessment Tax Due
HMRC has announced that Self Assessment tax payers 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.
HMRC is allowing 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 self assessment tax payers due to the pandemic, and anyone worried about paying their tax should contact HMRC for help and support on 0300 200 3822.
The Time to Pay facility allows self assessment tax payers to spread the cost of their tax liabilities into monthly instalments until January 2022. Self Assessment Tax Payers may set up a payment plan online, on GOV.UK.
Self Assessment tax payers have until the 28 February to file the 2020 self assessment return to avoid a late filing penalty.
Follow me!
