File tax returns now to prevent penalties

by Susie Hughes at 10:40 25/02/21 (News on Business)

Self Assessment taxpayers have a few days left to submit their late tax returns to prevent a £100 penalty.

While 10.7 million taxpayers filed their return by January 31, more than 1.5 million taxpayers missed this deadline and are still to file their tax return. They are accruing interest on any unpaid tax liabilities but still have time to file and pay without incurring penalty charges. Advertisement Taxpayers have until February 28 to file their return and prevent a Late Filing Penalty of £100. Those who owe tax have until midnight on April 1 to pay any outstanding tax or set up a payment plan to prevent a five per cent Late Payment Penalty. HMRC has delayed late filing and late payment penalties this year for Self Assessment taxpayers to help anyone who may be struggling because of the coronavirus pandemic. Anyone who is worried about paying their tax can set up a payment plan online or contact HMRC for more help and support on 0300 200 3822. Tweet -- If you wish to comment on this article, please log in and use the Reply button below. Registering is free and easy - see 'Join Shout99'. - Susie Hughes © Shout99 2021

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