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HMRC extend Self-assessment deadline. Extended to February 28th due to Covid.

No £100 fine for late self-assessment if it is made before February 28th- but taxes due will still be hit with interest.

HMRC COVID19 update 25th January 2020- Self-assessment customers will not receive a penalty for their late online tax return if they file by 28th of February. However any tax due for 2019-2020, that has not been paid on the 1st of February, will begin to incur interest. The usual rate is 2.6%.

As penalties on tax owing do not begin until the 2nd March, this means that a return made before the 28th February will cost the taxpayer interest on tax owing, but no flat rate fine or penalty. In real terms, this is an extension to the deadline for those who owe little or no tax.

See HMRC update for more.

This article was published in our News section on 25/01/2021.

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