HMRC gives Self Assessment taxpayers extra month
HM Revenue and Customs (HMRC) is waiving late filing and late payment penalties for Self Assessment taxpayers for one month in a bid to ease Covid-19 pressures.
Although the deadline to file and pay remains 31st January 2022, anyone who cannot file their return by that deadline will not receive a late filing penalty if they file online by 28th February.
In addition, anyone who cannot pay their Self Assessment tax by the 31st January deadline will not receive a late payment penalty if they pay their tax in full, or set up a Time to Pay arrangement, by 1st April.
Interest will be payable, however, from 1st February, as usual.
HMRC says that of the 12.2 million taxpayers who need to submit their tax return by 31st January 2022, almost 6.5 million have already done so.
Angela MacDonald, HMRC’s deputy chief executive and second permanent secretary, said: “We know the pressures individuals and businesses are again facing this year, due to the impacts of Covid-19. Our decision to waive penalties for one month for Self Assessment taxpayers will give them extra time to meet their obligations without worrying about receiving a penalty.”
Lucy Frazer, financial secretary to the Treasury, said: “We recognise that Omicron is putting people under pressure, so we are giving millions of people more breathing space to manage their tax affairs.
“Waiving late filing and payment penalties will help ease financial burdens and protect livelihoods as we navigate the months ahead.”