Skip to content
Search
AI Powered
Latest Stories

HMRC waives late filing and payment penalties for Self Assessment taxpayers

HMRC waives late filing and payment penalties for Self Assessment taxpayers

HM Revenue and Customs (HMRC) has waived late filing and late payment penalties for Self Assessment taxpayers for one month.

The agency said this will give taxpayers more time to ease Covid-19 pressures and complete their 2020/21 tax return and pay any tax due. Last year also, HMRC has not charged late filing and payment penalties for a month.


The deadline to file and pay remains 31 January 2022, but the penalty waivers will mean that those who cannot file their return by this date will not receive a late filing penalty if they file online by 28 February, and anyone who cannot pay their Self Assessment tax by the deadline will not receive a late payment penalty if they pay their tax in full, or set up a Time to Pay arrangement, by 1 April.

“We know the pressures individuals and businesses are again facing this year, due to the impacts of Covid-19. Our decision to waive penalties for one month for Self Assessment taxpayers will give them extra time to meet their obligations without worrying about receiving a penalty,” Angela MacDonald, HMRC’s deputy chief executive and second permanent secretary, said.

HMRC encouraged taxpayers to file and pay on time if they can, adding that almost 6.5 million, out of the 12.2 million taxpayers who need to submit their tax return by 31 January, have already done so. Interest will be payable from 1 February as usual, the agency noted.

The existing Time to Pay service allows any individual or business who needs it the option to spread their tax payments over time. Self Assessment taxpayers with up to £30,000 of tax debt can do this online once they have filed their return.

As the 2020/21 tax return covers earnings and payments during the pandemic, taxpayers will need to declare if they received any grants or payments from the Covid-19 support schemes up to 5 April 2021 on their Self Assessment, as these are taxable.

See HMRC guidance here on reporting Covid-19 grants and support payments.

More for you

Carlsberg Zero
Competition watchdog begins Carlsberg, Britvic merger probe
Competition watchdog begins Carlsberg, Britvic merger probe

Carlsberg shifts marketing focus as drinkers choose cheaper beer

Brewer Carlsberg is shifting some of its marketing focus to cheaper brands, it said on Thursday (31), as consumers in major markets bought cheaper beer and in reduced quantities.

The maker of Kronenbourg 1664, Tuborg and Somersby said beer sales volumes fell by 1.3 per cent in the third quarter, noting declines in China, France and the United Kingdom. Premium sales fell 0.5 per cent in the quarter."In Western Europe, there's no doubt that the average consumer is holding back," CEO Jacob Aarup-Andersen told Reuters.

Keep ReadingShow less
sustainability, zero waste store, refil lzone
Photo: iStock
Photo: iStock

Consumers value ethics though 'sustainability needs to be competitively priced'

Consumers now want a greater commitment from retailers in cutting food waste, refilling stations, sustainable packaging, and partnering with social purpose organisations, states a recent research, which also highlights that a good majority (69 per cent) of younger consumers are more likely to shop with what they see as socially responsible retailers though price sensitivity still plays a crucial role.

According to the findings, published in Vypr’s Consumer Horizon Report, reducing food waste is the most important factor for the majority of UK consumers (29 per cent), especially for Gen Z women aged 18-24 (38 per cent). More than a third (37 per cent) of men aged 18-24 said they needed food storage advice. A similar number of women aged 18-24 (33 per cent) want meal kits with the exact amount of ingredients included for them to cut down on food waste.

Keep ReadingShow less
Sugro-Wn-News.png
Sugro UK
Sugro UK

Sugro UK unveils new B2B digital enhancements to empower members, retailers

Sugro UK, the number one buying and marketing buying group*, in partnership with b2b.store, is thrilled to announce a further expansion of its existing E-Loyalty scheme programme, which has proven to be very popular with its members and retailers, by introducing E-Loyalty Extra Compliance and Execution scheme as well as E-Coupons.

The E-Loyalty Extra is aimed to boost compliance and execution at retail store level to drive new product launches, core range compliance, some exciting fixture trials with its supply partners and more! It will be available to all member owned and member affiliated retail stores within the group.

Keep ReadingShow less
Paulig acquires Panesar Foods

iStock image

Paulig acquires Panesar Foods

Expanding its footprint in the World Foods category, Paulig has acquired Panesar Foods, a prominent UK-based producer of sauces and condiments.

Founded in 1992 and headquartered in Tipton, Panesar Foods is a family-owned business with three production facilities, employing 308 staff and achieving a turnover of £59 million in the 2023 fiscal year.

Keep ReadingShow less
Mary Glindon

Mary Glindon

Labour MP cautions proposed vaping tax could hinder smoking cessation efforts

Labour MP Mary Glindon has cautioned that a new excise tax on vaping could discourage smokers from switching to less harmful alternatives.

Glindon, who also chairs the All-Party Parliamentary Group for Responsible Vaping, said the chancellor’s proposed tax, which will add £2.20 per 10ml of vaping liquid when it goes into effect on October 1, 2026, will “hurt working people”, who rely on vapes to quit smoking.

Keep ReadingShow less