Late SA taxpayers will not be charged 5% surcharge

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Lance replied

22 February 2021, 12:08
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.
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ladymuck started a topic Late SA taxpayers will not be charged 5% surcharge

22 February 2021, 10:57
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.
Tags: self assessment