HMRC have advised that they will not waive late filing penalties, or extend the deadline of the 31st January, they will however accept pandemic related disruptions and agent delays as a reasonable excuse, and they will also extend the period to appeal a penalty.
The advice from HMRC to taxpayers is to complete and file their tax returns as soon as possible, and by the self assessment deadline, even if you cannot pay in full.
* The filing submission of the tax return is crucial in order for HMRC to assess individuals ‘self assessment liabilities’, and in being able to seek support from HMRC if more time to pay is needed.
HMRC has acknowledged that some taxpayers and agents will not be able to file on time due to the impact of coronavirus, and whilst they cannot issue a ‘blanket waiver’ of late penalties, HMRC have said that they will accept pandemic related disruption caused to the taxpayers business, or personal circumstances, as a reasonable excuse.
Late self assessment submissions will generate a late penalty notice from HMRC, but Chief Executive of HMRC, Jim Harra, has said those affected (or acting agents) can get late filing penalties cancelled by contacting them to explain the reason as to why the return was filed late. The appeal period has been extended from one to three months to give taxpayers and agents more time.
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