HM Revenue and Customs (HMRC) is waiving late filing and late payment penalties for Self Assessment taxpayers for one month, giving them extra time, if they need it, to complete their 2020/21 tax return and pay any tax due.
However, HMRC is encouraging taxpayers to file and pay on time if they can, as the department reveals that, of the 12.2 million taxpayers who need to submit their tax return by January 31, 2022, almost 6.5 million have already done so.
Anyone who cannot pay their Self Assessment tax by January 31 will not receive a late payment penalty if they pay their tax in full, or set up a time to pay arrangement, by April 1.
