Four million still to submit tax return

With less than a week to go until the self-assessment deadline date, HMRC has warned that four million people are yet to submit their tax return.

Although HMRC has waived both late filing and payment penalties for one month, it is urging people to file their tax return, pay any outstanding liabilities, or set up a payment plan before the deadline as interest will be payable from the 1^st February.

The deadline date remains on the 31^st January 2022, but the penalty waivers will mean that:

• Anyone who cannot file their return by the 31^st January deadline will not receive a late filing penalty if they file online by 28^th February.
• Anyone who cannot pay their self-assessment tax by the 31^st January 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^st April.

Myrtle Lloyd, HMRC’s Director General for Customer Services, said, “We know some customers may struggle to meet the self-assessment deadline on the 31^st January which is why we have waived penalties for one month, giving them extra time to meet their obligations.

“And if anyone is worried about paying their tax bill, they can set up a monthly payment plan online – search ‘pay my self-assessment’ on GOV.UK.”

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