With all those resolutions about wanting to get in shape, make more time for your family, and trying new things for the first time, it’s a real kick in the teeth when you realise you’ve got to spend time stressing about getting your taxes filed by the end of the month.
Well there’s some good news!
HMRC have announced they are delaying late filing and payment penalties for self-assessment taxpayers by one month to help them cope with pressures caused by the pandemic.
This is fantastic news as those who cannot file their return by 31 January 2022 will not receive a late filing penalty if they file online by the 28th February.
Taxpayers unable to pay their self-assessment tax by 31 January will not receive a penalty if they pay in full, or set up a time to pay arrangement, by the 1st April 2022.
We would advise filing your taxes as early as possible to avoid unnecessary stress and any potential fines, even with this deadline extension, but you do have a little more time to stick to those new year resolutions.
Support and advice with your self-assessment and tax payments is part of the service for our clients.
Get in touch to be thoroughly guided and supported through filing your taxes for 2022.