Coronovirus Related Update

HMRC has announced that there will be short window in which late filed tax returns will not be subject to a late filing penalty.

The text is set out in the letter send to tax professionals earlier today below.

Today HMRC has announced that Self Assessment customers will not receive a penalty for filing their 2019-20 tax return late, as long as they file online by 28‌‌ ‌February. We are still encouraging customers who have not yet filed to do so by 31‌‌ ‌January, if possible.

Customers still need to pay their Self Assessment tax bill by 31‌‌ ‌January. Interest will be charged from 1‌‌ ‌February on any outstanding liabilities. Customers can pay online, or through their bank, or by post before they file.

If any customer cannot afford to pay by 31‌‌ ‌January, they may be able to set up an affordable plan and pay in monthly instalments. But they will need to file their 2019-20 tax return before setting up a time to pay arrangement.

More information is available on GOV.UK.

Yours sincerely

Alison Walsh

Head of Digital Communication Services

Comment

This is a practical and helpful decision but not one, which negates the need nor the requirement for taxpayers to complete a file a tax return.

ASE has many returns to file within the next few days and if any taxpayer is having any difficulty compiling the data which in turn is to be filed as part of their tax return, please contact us as soon as possible so we can take the appropriate action.

If you need any further details please contact us at chris.cummings@ase-global.com.

Or visit our LinkedIn page for more info:https://www.linkedin.com/company/ase-plc/