3 Week Warning to Self Assessment Deadline
Published / Last Updated on 07/01/2021
This weekend will leave you just 3 weeks to go for the 31st January 2021 deadline for self assessment.
HMRC has confirmed it has no plans to waive late filing penalties:
The penalties for late filing are as follows:
- 1 day late = £100 penalty
- 3 months late = additional DAILY penalty of £10 per day
- 6 months late = 5% of tax due capped at £300 + £10 per day keeps being added
- 12 months late = extra 5% of tax due capped at £300 + £10 per day keeps being added
- It then starts to get ‘ugly’.
That said, HMRC does have some flexibility to waive penalties if:
- You were impacted by Covid-19 personally
- Your tax agent was impacted by Covid-19 so they filed your return late
