HMR….C U in February!

Self assessment tax returns are normally due by the end of January otherwise the taxpayer is fined £100.  

However, after mounting pressure from accountants, HMRC have agreed to not charge the penalty of £100 as long as the return is submitted by the end of February.

The tax still has to be paid by 31 January otherwise they will accrue interest.

Why HMRC are only announcing this one week before the self-assessment deadline is bizarre as many accountants have been calling for this for months.

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