Changes to late filing penalty for 2019-20 Self Assessment returns

Changes to late filing penalty for 2019-20 Self Assessment returns

Updated 25th January 2021

Today HMRC has announced that Self Assessment customers will not receive a penalty for filing their 2019-20 tax return late, as long as they file online by 28‌‌ ‌February. Ward Williams are still encouraging customers who have not yet filed to do so by 31‌‌ ‌January, if possible.

Customers still need to pay their Self Assessment tax bill by 31‌‌ ‌January. Interest will be charged from 1‌‌ ‌February on any outstanding liabilities. Customers can pay online, or through their bank, or by post before they file.

If any customer cannot afford to pay by 31‌‌ ‌January, they may be able to set up an affordable plan and pay in monthly instalments. But they will need to file their 2019-20 tax return before setting up a time to pay arrangement.

More information is available on GOV.UK.

 

Personal Tax

About the author

Simon is the Tax Director at Ward Williams and has more than 20 years of practical experience working in the tax profession.

 

Specialising in personal tax, Simon qualified as a Tax Technician in 2007, having been awarded with the Ivison medal for attaining the highest mark in the Personal Taxation paper in 2006.

 

As department head, Simon oversees the tax team across the Ward Williams group, whilst managing a diverse portfolio of clients including high net worth individuals, doctors, directors of owner managed businesses, partnerships and sole traders.

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