Self Employed Penalties Update from HMRC
As you all know, you will get a penalty if you need to send a tax return and you miss the deadline for submitting it or paying your bill. You will get a penalty of £100.00 if your tax return is up to three months late. You will have to pay more if you file your return after 30th April, or if you pay your tax bill late. You will also be charged interest on late payments.
Because of coronavirus (COVID-19) you’ll not get a late filing penalty as long as you file by 28th February. You must still pay your Self Assessment bill by 31st January. If you’re having difficulty paying, you may be able to pay in monthly instalments.
If you need any assistance with your personal tax return call us on 01488 853193 or email email@example.com