Individual taxpayers will not receive a penalty for filing their 2019-20 UK tax return late, as long as they file online by 28 February.
HMRC has today announced that Self Assessment customers will not receive a penalty for filing their 2019-20 tax return late, as long as they file online by 28 February. However, they are still encouraging individuals who have not yet filed to do so by 31 January.
Taxpayers will still need to pay their Self Assessment liabilities by 31 January, as interest will be charged from 1 February on any outstanding amounts due at that date.
If an individual cannot afford to pay by 31 January, they may be able to set up an affordable plan and pay in monthly instalments. It will still be necessary to file a 2019-20 tax return before being able to set up a time to pay arrangement.
Further information is available at the following link: https://www.gov.uk/government/news/no-self-assessm...