More than 10.7 million people submitted their 2019/20 Self Assessment tax returns by the 31st January deadline, HM Revenue and Customs (HMRC) has revealed.
The remaining 1.8 million whose tax return is now late will not be charged a late filing penalty provided they submit their return online by 28th February.
Those who did not pay their Self Assessment tax bill by 31st January are now incurring interest on the outstanding balance and should pay their bill as soon as possible.
Customers should pay any outstanding balance, or arrange a payment plan, before 3rd March 2021 to avoid a 5% late payment penalty.
Those who are not yet able to file their tax return should pay an estimated amount as soon as possible, which will minimise any interest and late payment penalty. Self-employed people can use the calculator on GOV.UK to help estimate their tax bill.
Karl Khan, HMRC’s Interim Director General for Customer Services, said:
“Thank you to the 10.7 million customers who have sent in their tax returns.
“We won’t send anyone a late filing penalty if they complete their tax return by 28 February.
Article continues below this advertisement “We know that many individuals and small businesses are finding it harder to pay this year, due to the pandemic. Anyone who can’t afford to pay their tax bill in full can set up a payment plan, once they’ve filed their return, to spread their tax bill into monthly instalments.”
Be aware of copycat HMRC websites and phishing scams. Customers should search ‘self assessment’ on GOV.UK to get the correct link for their Self Assessment tax return online securely and free of charge. They also need to be alert if someone calls, emails or texts claiming to be from HMRC, saying that they can claim financial help, are due a tax refund or owe tax. It might be a scam.
Going to be slim pickings for HMG this year.
Lucky we haven’t a massively inorganically growing population to house, feed, treat and try to educate………Oh dear!