Self Assessment Extension

Set to end: 28 February 2022

HMRC have announced that no late filing penalties will be issued if outstanding self-assessment (SA) for 2020-21 are filed by 28 February 2022. And further, no late payment penalties will be charged for tax normally due 31 January 2022 as long as payment is made to HMRC by 1 April 2022 or a payment plan has been agreed with HMRC by the same date, 1 April 2022.

The changes will affect taxpayers who have still not filed their 2020-21 SA tax return and may be unable to settle any tax and NIC due by the usual 31 January 2022 payment deadline.

Please note: The formal filing deadline for 2020-21 SA returns remains 31 January 2022. The change announced will treat returns filed during February 2022 as received late BUT with a reasonable excuse for late filing. The other late filing penalties – daily penalties from 3-months, 6 and 12-months – will operate as usual.

Late Payment Penalty

A 5% late payment penalty will be charged if tax remains unpaid, and a payment plan has not been set-up, by midnight on 1 April 2022.

Further late payment penalties will be charged at the usual 6 and 12-month dates (August 2022 and February 2023).