HMRC relax SA penalty rules
Released 19 February 2021
HMRC have confirmed that Self Assessment (SA) taxpayers will not be charged the 5% late payment penalty if pay their tax or set up a payment plan by 1 April 2021.
The payment deadline for SA 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 are allowing additional time to pay or set up a payment plan.
Further details can be found in the HMRC press release.