Tax advice & accounting services for South London businesses & SMEs | T: 020 8761 8000
Taxfile
  • home
  • tax blog
  • about us
    • meet the team
    • reviews
    • case studies
    • awards
    • press
  • services
    • for the self-employed
    • for manual workers/CIS
      • claim CIS tax refunds here
    • for taxi drivers
    • for landlords
      • tax for holiday lets
    • for limited companies
    • tax return help
    • bookkeeping services
    • VAT help
  • book an appt
  • prices
    • terms & conditions
  • contact
  • Search
  • Menu Menu
tax blog
You are here: Home1 / tax blog2 / 20203 / 5% Late Payment Penalty Relief Announced by HMRC

5% Late Payment Penalty Relief Announced by HMRC

February 23, 2021/in 2020, 2021, Deadline, Filing deadlines, Income tax, Late return, payments on account, penalties, penalty, Self-assessment, Self-employed, Sole traders/by Taxfile

 

5% Late Payment Penalty Relief Announced by HMRC

HM Revenue and Customs (HMRC) has announced that Self Assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1st April 2021.

Normally, a 5% late payment penalty is also charged on any unpaid tax that is still outstanding on 3rd March. But this year, because of the impact of the COVID-19 pandemic, HMRC is giving taxpayers more time to pay or to set up a payment plan.

Taxpayers have until 28th February 2021 to file any pending tax returns and prevent being charged a late filing penalty (of £100).  They then have until 01/04/2021 to pay any outstanding tax or make an arrangement with HMRC for a payment plan before they receive a late payment penalty.

We encourage any of our clients that are struggling to meet their tax obligations to set up a payment plan to spread the cost into monthly instalments. More information can be found on the Government website HERE.  You will be able to spread the cost of their self assessment tax bill through to January 2022.

If you have any questions, please do not hesitate to contact us on 020 8761 8000 or, if you still have a 2019/20 tax return to submit, then we can help you get this in on time to avoid the £100 late filing penalty.  We will be open on Saturday the 27th & Sunday 28th February.

Tags: 2021, accountancy, accountants, advice, COVID-19, deadline, Dulwich, hmrc, income tax, inland revenue, key dates, late return, london, on-line returns, pandemic, payment plan, penalty, se21, self-assessment, south london, tax, tax advice, tax advisers, tax deadline, tax return, tax returns, taxfile, tulse hill
Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on Pinterest
  • Share on LinkedIn
  • Share on Reddit
  • Share by Mail
https://www.taxfile.co.uk/wp-content/uploads/2021/02/Late_Payment_Penalty_Relief.jpg 533 800 Taxfile https://www.taxfile.co.uk/wp-content/uploads/2020/03/taxfile-logo-2020.png Taxfile2021-02-23 14:40:222021-10-31 15:20:075% Late Payment Penalty Relief Announced by HMRC
You might also like
Tax Deadline You have only HOURS left to submit your Tax Return!
Taxfile passes HMRC inspection with flying colours!
George Osborne Highlights from the Chancellor’s Budget, 18 March 2015
Tax Credit Cuts Blocked by the House of Lords
Taxes & Cryptocurrency
Capital Gains Tax Rule Changes for 2nd properties and property rentals Second Property & Rented Property ‘Tax Trap’ for the Unwary
Taxfile newsletter (Autumn 2015) Save money & hassle with our latest PDF newsletter!
SME Brexit Support Fund

Recent Posts

  • Tax-Free Personal Allowance Thresholds & Tax Bands (2022/23 to 2016/17) May 28, 2022
  • CIS Sub-contractors – Claim Your Tax Refund Now! March 28, 2022
  • Key Takeaways from the Spring Statement 2022 March 24, 2022
  • New Taxfile Brochure – Download Here February 19, 2022
  • A Personal Message from Guy Bridger at Taxfile January 29, 2022

Archives

Categories

LATEST POSTS

  • Tax-Free Personal Allowance Thresholds & Tax Bands (2022/23 to 2016/17)
  • CIS Sub-contractors – Claim Your Tax Refund Now!
  • Key Takeaways from the Spring Statement 2022
  • New Taxfile Brochure – Download Here
  • A Personal Message from Guy Bridger at Taxfile

OPENING HOURS

Monday: 9 am-6 pm
Tuesday: 9 am-6 pm
Wednesday: 9 am-5 pm
Thursday: 9 am-5 pm
Friday: 9 am-3 pm
Saturday: closed
Sunday: closed

Download our latest brochure:

New Brochure 2022/23

CONTACT US

LONDON OFFICE:
Taxfile,
25 Thurlow Park Road,
Tulse Hill, London
SE21 8JP.
Tel: +44(0)20 8761 8000
Email: info@taxfile.co.uk

EXETER OFFICE:
For accounting help and tax advice in Devon, the West Country and the South West, visit guybridger.com

SHARE THIS PAGE

Follow or Like Us

© Copyright - Taxfile 2022. All rights reserved | Site by Starling Design
Latest News on Gov. Grants, Support, Loans, Deadlines & More Latest e-Newsletter Confirms Important Updates TODAY is the deadline for submission of your tax return. Contact Taxfile for help filing & avoid a minimum £100 fine! TODAY is the Self Assessment Tax Return Deadline!
Scroll to top

This site uses cookies. By continuing to browse the site, you are agreeing to our use of cookies.

Accept settingsHide notification onlySettings

Cookie and Privacy Settings



How we use cookies

We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.

Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.

Essential Website Cookies

These cookies are strictly necessary to provide you with services available through our website and to use some of its features.

Because these cookies are strictly necessary to deliver the website, refuseing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.

We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.

We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.

Other external services

We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.

Google Webfont Settings:

Google Map Settings:

Google reCaptcha Settings:

Vimeo and Youtube video embeds:

Accept settingsHide notification only
Call Now Button
T: 0208 761 8000 | eNewsletter Sign-up | Book Appointment | Enquiry Form