Self-Assessment late filing penalties

HMRC have announced that Self Assessment taxpayers will not receive a late penalty for their online tax return if they file before 28th February.

Taxpayers are still obliged to pay their bill by 31 January. Interest will be charged from 1 February on any outstanding liabilities.

Taxpayers who cannot afford to pay their tax bill on time can apply online to spread their bill over up to 12 months.

Read more: https://www.gov.uk/government/news/no-self-assessment-late-filing-penalty-for-those-who-file-online-by-28-february

Source: GOV.UK