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Late SA taxpayers will not be charged 5% surcharge

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    Late SA taxpayers will not be charged 5% surcharge

    https://www.accountingweb.co.uk/tax/...ed-5-surcharge

    As the impact of Covid-19 continues, taxpayers can dodge the first 5% surcharge as long as they pay their tax or set up a time to pay arrangement or a payment plan by 1 April 2021.

    In normal years, the interest kicks in from 1 February on amounts outstanding and a late payment penalty is also charged at 5% of any unpaid tax that is still outstanding on 3 March.

    HMRC’s 11th-hour decision to waive late filing penalties gave breathing space to the 1.8m taxpayers that didn’t make the 31 January payment deadline, but mounting interest still hung over them.

    Taxpayers now have until 28 February to file any late tax returns and to prevent being charged a late filing penalty of £100. They then have until 1 April to pay any outstanding tax or make a time to pay arrangement and sidestep a late payment penalty.

    #2
    Originally posted by ladymuck View Post
    https://www.accountingweb.co.uk/tax/...ed-5-surcharge

    As the impact of Covid-19 continues, taxpayers can dodge the first 5% surcharge as long as they pay their tax or set up a time to pay arrangement or a payment plan by 1 April 2021.

    In normal years, the interest kicks in from 1 February on amounts outstanding and a late payment penalty is also charged at 5% of any unpaid tax that is still outstanding on 3 March.

    HMRC’s 11th-hour decision to waive late filing penalties gave breathing space to the 1.8m taxpayers that didn’t make the 31 January payment deadline, but mounting interest still hung over them.

    Taxpayers now have until 28 February to file any late tax returns and to prevent being charged a late filing penalty of £100. They then have until 1 April to pay any outstanding tax or make a time to pay arrangement and sidestep a late payment penalty.
    this is another ridiculous u-turn.
    They said everyone can have another month, but didn;t tell them they'd still have an extra charge. So they now scrap the extra charge.


    But it makes no sense. Why on earth would Covid affect anyone's ability to submit SA? It might affcet their ability to pay but one month doesn't help those.
    It seems that Dishy Rishi is just as incompetent as the rest of the cabinet of boot (and window) lickers.
    See You Next Tuesday

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