HMRC extends self-assessment deadline but there is a ‘sting in the tail’

With the self-assessment deadline just over three weeks away, many individuals, including self-employed agents, will be pleased to learn that self-assessment customers will not receive a penalty for their late online tax return if they file by 28 February.

To be clear, anyone who cannot file their return by the 31 January deadline will not receive a late filing penalty if they file online by 28 February.

HMRC has also announced that it is postponing late-payment penalties for self-assessment taxpayers until 1 April to help people cope with “the pressure” individuals and businesses are facing owed to Covid-19.

Read the full article on Property Industry Eye | JANUARY 7, 2022 | MARC DA SILVA