LATE SELF-ASSESSMENTS: 1.8 million tax returns remain outstanding reveals HMRC
More than 10.7 million people submitted their 2019/20 Self Assessment tax returns by the 31 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 28 February.
Those who did not pay their Self Assessment tax bill by 31 January are now incurring interest on the outstanding balance and should pay their bill as soon as possible. HMRC state that customers should pay any outstanding balance, or arrange a payment plan, before 3 March 2021 to avoid a 5% late payment penalty.
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.
“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.”
