HM Revenue and Customs HMRC announced More help for Self Assessment taxpayers
HM Revenue and Customs announces Self Assessment taxpayers will not be charged the 5% late payment penalty if pay their tax or set up a payment plan by 1 April 2021
Self Assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1 April 2021, HM Revenue and Customs (HMRC) has announced.
The payment deadline for Self Assessment is 31 January and interest is charged from 1 February on any amounts outstanding. Normally, a 5% late payment penalty is also charged on any unpaid tax that is still outstanding on 3 March. But this year, because of the impact of the COVID-19 pandemic, HMRC is 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 online at GOV.UK. They need to do this by midnight on 1 April to prevent being charged a late payment penalty.
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