No late fee for missing Self-Assessment deadline – if filed by February 28

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HM Revenue & Customs (HMRC) has today announced (Monday, January 25) that Self-Assessment customers will not receive a penalty for filing their 2019-20 tax return late, as long as they file online by ‌February 28. 

However, our tax manager Nick Charnley, is still encouraging customers who have not yet filed to do so by ‌January 31, if possible.

Customers still need to pay their Self-Assessment tax bill by ‌January 31.

Interest will be charged from ‌February 1 on any outstanding liabilities.

Customers can pay online, or through their bank, or by post before they file.

If any customer cannot afford to pay by ‌January 31, they may be able to set up an affordable plan and pay in monthly instalments.

But they will need to file their 2019-20 tax return before setting up a time to pay arrangement.

More information is available at GOV.UK.

Ellis & Co Chartered Accountants and Business Advisers, Chester & Wrexham - 01244 343504, info@ellis-uk.com