Today, HMRC finally made the announcement that those across the profession have been calling for - for months. Although the filing deadline has not been officially extended, HMRC have confirmed that no penalties will be applied for late submission, provided that returns are submitted before 28 February 2021.
Those that can are still encouraged to submit their return on time and it is important to be aware that the payment deadline has not changed. We would agree with this, not least because the tax payment date has not changed and means that interest will still apply from 1st February. Therefore, even if you cannot get your return in on time, we would recommend you make a payment towards your expected tax bill to reduce any charges. For those that are unable to pay, HMRC’s payment plans will still be available.
Chris Leslie, M&S Accountancy & Taxation