HMRC have extended the filing deadline for the 2020 self-assessment tax return by one month. The deadline should have been 31st January 2021 but due to the immense pressure caused by the coronavirus pandemic, HMRC will not impose the usual £100 fine for those returns that are filed by 28th February 2021.
However, taxpayers are still obliged to pay their bill by the original deadline of 31st January 2021 and interest will be charged on amounts outstanding after that date.
According to HMRC, 3 million people have not yet submitted their tax return. If you are one of these people and need help, please do get in touch with Stedman Accounting today.