HMRC have announced that Self-Assessment taxpayers will not be charged the 5% late payment penalty if the 2019/20 tax is paid or a payment plan is arranged by 1 April 2021.
The payment deadline for Self-Assessment was 31 January 2021 and interest is charged from 1 February 2021 on any amounts outstanding. The 5% late payment penalty would normally be charged on any unpaid tax that is still outstanding on 3 March 2021 however, because of the impact of the Covid-19 pandemic HMRC are giving taxpayers more time to pay or set up a payment plan. Taxpayers can pay their tax bill or set up a monthly payment plan via their Government Gateway account. The online Time to Pay facility allows taxpayers to spread the cost of their Self-Assessment tax bill into monthly instalments until January 2022. If you are unable to set up a payment plan online, you can contact HMRC by telephone on 0300 200 3822. Comments are closed.
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November 2023
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