An extra month to file your Self-Assessment Tax Return
Discussion
Just an FYI for any 'last minute filers', HMRC have just announced:
"Today HMRC has announced that Self Assessment customers will not receive a penalty for filing their 2019-20 tax return late, as long as they file online by 28 February. We are still encouraging customers who have not yet filed to do so by 31 January, if possible.
Customers still need to pay their Self Assessment tax bill by 31 January. Interest will be charged from 1 February on any outstanding liabilities. Customers can pay online, or through their bank, or by post before they file.
If any customer cannot afford to pay by 31 January, they may be able to set up an affordable plan and pay in monthly instalments. But they will need to file their 2019-20 tax return before setting up a time to pay arrangement.
More information is available on GOV.UK."
They could have announced this a bit sooner, but there you go.
"Today HMRC has announced that Self Assessment customers will not receive a penalty for filing their 2019-20 tax return late, as long as they file online by 28 February. We are still encouraging customers who have not yet filed to do so by 31 January, if possible.
Customers still need to pay their Self Assessment tax bill by 31 January. Interest will be charged from 1 February on any outstanding liabilities. Customers can pay online, or through their bank, or by post before they file.
If any customer cannot afford to pay by 31 January, they may be able to set up an affordable plan and pay in monthly instalments. But they will need to file their 2019-20 tax return before setting up a time to pay arrangement.
More information is available on GOV.UK."
They could have announced this a bit sooner, but there you go.
LeighW said:
Just an FYI for any 'last minute filers', HMRC have just announced:
"Today HMRC has announced that Self Assessment customers will not receive a penalty for filing their 2019-20 tax return late, as long as they file online by 28 February. We are still encouraging customers who have not yet filed to do so by 31 January, if possible.
Customers still need to pay their Self Assessment tax bill by 31 January. Interest will be charged from 1 February on any outstanding liabilities. Customers can pay online, or through their bank, or by post before they file.
If any customer cannot afford to pay by 31 January, they may be able to set up an affordable plan and pay in monthly instalments. But they will need to file their 2019-20 tax return before setting up a time to pay arrangement.
More information is available on GOV.UK."
They could have announced this a bit sooner, but there you go.
NOW they tell us "Today HMRC has announced that Self Assessment customers will not receive a penalty for filing their 2019-20 tax return late, as long as they file online by 28 February. We are still encouraging customers who have not yet filed to do so by 31 January, if possible.
Customers still need to pay their Self Assessment tax bill by 31 January. Interest will be charged from 1 February on any outstanding liabilities. Customers can pay online, or through their bank, or by post before they file.
If any customer cannot afford to pay by 31 January, they may be able to set up an affordable plan and pay in monthly instalments. But they will need to file their 2019-20 tax return before setting up a time to pay arrangement.
More information is available on GOV.UK."
They could have announced this a bit sooner, but there you go.
They have been flatly denying that they will be doing any such thing right up to today - b****rds.
zedstar said:
Good move - i've got about 20 left due needing 10 days isolation this month
Best get back to it!
I suppose that what it's aimed at - although I bet HMRC were themselves getting twitchy that their system might fall over if 4.5 million people tried to submit their returns win the last four days.Best get back to it!
Some firms are struggling to get the information in, get the work completed as they are not so well setup to WFH and then some clients will be having a terrible time with COVID. I understand why they left it to the 11th hour to announce, otherwise it would have just meant everyone took their foot off the gas, which would have then dragged the SA season on another month for firms.
randlemarcus said:
Why?
I mean, I could get behind HMRC saying "dont worry about the payments". That would be nice.
But an extension to filing self-assessment, when most folks have a superabundance of spare time, in the place where all the tax stuff is, just sounds a bit odd.
Many people won't complete a self assessment themselves, but use an accountant. And may not have the cash to pay them.I mean, I could get behind HMRC saying "dont worry about the payments". That would be nice.
But an extension to filing self-assessment, when most folks have a superabundance of spare time, in the place where all the tax stuff is, just sounds a bit odd.
randlemarcus said:
Why?
I mean, I could get behind HMRC saying "dont worry about the payments". That would be nice.
But an extension to filing self-assessment, when most folks have a superabundance of spare time, in the place where all the tax stuff is, just sounds a bit odd.
Having additional time does not automatically translate into having additional time available to keep your tax affairs up to date. And, as has been mentioned, there are all sorts of logistical obstacles in place regarding obtaining data from third parties, passing that data on to agents and agents' work capacity. On top of that, accountants and agents have had to deal with many additional tasks that they have had to take on board due to rapid fire and rapidly changing Government rules and regulations surrounding businesses and tax.I mean, I could get behind HMRC saying "dont worry about the payments". That would be nice.
But an extension to filing self-assessment, when most folks have a superabundance of spare time, in the place where all the tax stuff is, just sounds a bit odd.
And another factor is depression. It is pretty much accepted that many more people have been affected by depression over the past year and depression is a major stumbling block when trying to get people to organise their affairs - which is half the battle with self assessment. I know with my clients that a number of them have just not been able to get themselves organised as quickly or as efficiently as they sometimes do - purely down to the depression caused by lock down and isolation.
I've even had a couple of clients who actually went down with Covid 19 itself - two of them very seriously.
So, all in all, it is a good thing that they have offered this one-off deadline extension. Companies House added a three month extension to company accounts filing deadlines right from the start of the pandemic. It was increasingly looking a bit odd that HMRC wasn't offering at least some respite from the pressures people are under.
Having been on the phone to them for 1 hour yesterday and another 30 minutes so far I can confirm that HMRC have an automated telephony system designed in Dante's 9th Circle of Hell.
I KNOW THERE'S A f
kING ONLINE fkING WEBSITE!!! THE REASON I'VE BEEN ON THE fkING PHONE FOR THE LAST HOUR IS BECAUSE YOUR WEBSITE IS fkING st AND ABOUT AS USEFUL AS A ONE-LEGGED MAN IN AN ARSE-KICKING CONTEST!!!
I KNOW THERE'S A f
kING ONLINE fkING WEBSITE!!! THE REASON I'VE BEEN ON THE fkING PHONE FOR THE LAST HOUR IS BECAUSE YOUR WEBSITE IS fkING st AND ABOUT AS USEFUL AS A ONE-LEGGED MAN IN AN ARSE-KICKING CONTEST!!!What am I missing regarding this extension? The date to file has been extended but the date to pay has not - as a self assessor, I rely on the assessment telling me how much to pay, so other than pressing the submit button, what is left to do or how does anyone know what they need to pay but have not yet done their assessment?
Countdown said:
Having been on the phone to them for 1 hour yesterday and another 30 minutes so far I can confirm that HMRC have an automated telephony system designed in Dante's 9th Circle of Hell.
I KNOW THERE'S A fkING ONLINE fkING WEBSITE!!! THE REASON I'VE BEEN ON THE fkING PHONE FOR THE LAST HOUR IS BECAUSE YOUR WEBSITE IS fkING st AND ABOUT AS USEFUL AS A ONE-LEGGED MAN IN AN ARSE-KICKING CONTEST!!!
It's the same with many companies now. A 2-minute recorded message telling you how many ways you can contact them. Repeated after every option. Can only presume the bosses of these companies don't try ringing their own number to see how annoying it is. I am calling you because I want to speak to someone. If I wanted to visit your website to read 20 irrelevant FAQs or send you an e-mail I would have done so!I KNOW THERE'S A f
kING ONLINE fkING WEBSITE!!! THE REASON I'VE BEEN ON THE fkING PHONE FOR THE LAST HOUR IS BECAUSE YOUR WEBSITE IS fkING st AND ABOUT AS USEFUL AS A ONE-LEGGED MAN IN AN ARSE-KICKING CONTEST!!!S6PNJ said:
What am I missing regarding this extension? The date to file has been extended but the date to pay has not - as a self assessor, I rely on the assessment telling me how much to pay, so other than pressing the submit button, what is left to do or how does anyone know what they need to pay but have not yet done their assessment?
It's worded that way because the late filing penalty has been suspended for a month but the late payment interest has not.Gassing Station | Finance | Top of Page | What's New | My Stuff