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HMRC has so far resisted calls to extend the forthcoming Self Assessment tax return deadline on 31 January and an easing of the late filing penalties also appears highly unlikely at this stage.
Despite this there are options available to those facing difficulties, particularly late filing due to Covid-19 related delays.
The online deadline for completing a 2019/20 self-assessment tax return is 11.59pm on Sunday 31 January – filing later than that would usually incur a fine.
However, this year, HMRC has said that it will accept personal or business disruption related to Covid-19 as a “reasonable excuse” for late filing and penalties will be cancelled on the basis that filing is taken care of as soon as possible afterwards.
For further information please visit the GOV.UK website.
If you require assistance with your tax return filing obligations or wish to discuss your options further please do get in touch.
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