The following Personal Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
HMRC has confirmed that it will waive:
late filing penalties for all 2019/20 returns filed before 1 March 2021. This means that as long as the 2019/20 return is filed by 28 February 2021, no £100 late filing penalty will be issued. This was announced on 25 January 2021
late payment penalties for any tax due in relation to the 2019/20 tax year that is either paid before 2 April 2021 or where a payment plan is set-up before 2 April 2021. This means that as long as the tax due is either paid or a time to pay arrangement in place by midnight on 1 April 2021, the first late payment penalty (5% of the tax outstanding) will not be charged. This was announced on 19 February 2021
For details of the penalty rules, see the Self assessment late filing penalties and Interest and penalties on late paid tax under self assessment guidance notes.
The late filing penalty waiver applies to all self assessment returns.
For the avoidance of doubt, the Chartered Institute of Taxation (CIOT) has clarified with HMRC that the waiver applies to:
personal tax returns (SA100) filed online
partnership tax returns (SA800) filed online
trust and estate tax returns (SA900) filed online
non-resident company income tax return (SA700) filed on paper
trustees of registered pension schemes tax return (SA970) filed on paper
The non-resident company income tax return and trustees of registered pension schemes tax return cannot be filed online and therefore the paper filing deadline is 31 January 2021. Note that HMRC had already confirmed to the CIOT that the non-resident company income tax return must be submitted with a ‘wet’ signature, despite the potential difficulties in arranging this given that the signatory is likely to be overseas. HMRC will not accept an electronic or scanned copy.
Where the return can be filed online, the late filing penalty waiver only applies to electronic sub
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