HMRC have announced an effective 28 February deadline extension for submitting a personal tax return, and an extension of the payment period before incurring a penalty to 1 April.

Five things to know about the personal tax return deadline announcement:

  • HMRC have said that no-one will receive a late filing penalty if they file their 2019-20 tax return by 28 February 2021
  • The 2019-20 tax return covers earnings between 6 April 2019 and 5 April 2020
  • The deadline to pay remains 31 January. But there’s no penalty so long as you pay by 1 April (there may be a small amount of interest)
  • You can also approach HMRC to negotiate or request a payment plan and should do so ASAP if you need more time to pay
  • We are still recommending you complete a tax return as soon as possible

This is good news. untied and others have been campaigning for an extension and it will be a big help to those home-schooling and otherwise affected by COVID.

Are you self-employed? You may also want this quick Self-Employment Income Support Scheme (SEISS) update:

  • The application deadline for SEISS Phase 3 was 29 January 2021
  • Phase 4 details have not yet been announced – untied and many others have called for tax returns to 5 April 2020 to be used as the basis for Phase 4. We expect an announcement in the 3 March Budget
  • Updates will be posted at untied.io/seiss

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