HMRC Suspends Late Filing Tax Penalties Until 28 February
It’s your last chance to file your tax return as HMRC has waived late filing penalties on UK tax returns as long as they are submitted before the 28th February.
Due to mounting pressure from professional bodies, HMRC announced at the end of January they would effectively extend the UK tax return deadline until the 28th February 2021. The Chef Executive from HMRC, Jim Harra, is quoted to have said this move will “give [taxpayers] the breathing space they need to complete and file their returns, without worrying about receiving a penalty”.
Harra is urging those who have not yet completed their tax return to make the most of the extended deadline and complete their return before the end of this month to avoid any late penalty charges. Harra went on to admit that due to the immense pressure of these unprecedented times people have been unable to find tome to submit their tax returns by the usual January deadline and is urging those who have not yet filed their to do so immediately. Harra continued, “We want to encourage as many people as possible to file their return on time, so we can calculate their tax bill and help them if they can’t pay it straight away”.Keep Reading >