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Jan 7, 2022

One-month waiver for self-assessment fines

HMRC has delayed late-filing and payment penalties for self-assessment taxpayers by one month amid pressures caused by the pandemic.

Anyone who cannot file their return by 31 January 2022 will not receive a late-filing penalty if they file online before midnight on 28 February 2022.

Taxpayers unable to pay their self-assessment tax by 31 January will not receive a penalty if they pay in full, or set up a time-to-pay arrangement, by 1 April 2022.

Interest will be payable from 1 February 2022 as usual, however, so it is still better to file and pay on time, if possible.

John Cullinane, director of public policy for the Chartered Institute of Taxation, said:

"Taxpayers should beware this is not a deferral of the tax return deadline itself.

"Where possible taxpayers should continue to file their return and pay any tax due by 31 January, as interest will still accrue from 1 February.

"This is not an opportunity for tax advisers to ‘shelve' their tax obligations. A £100 late filing penalty could still apply if the tax return is not filed by midnight on 28 February."

Talk to us about your self-assessment tax return.