By Mel Hackney

As we approach the end of January, the personal tax return self-assessment deadline is looming. However, for the 2020/21 return due on 31 January 2022, HMRC is waiving late filing and late payment penalties for one month. This means that penalties will not be triggered unless the return is filed, or payment made after 28 February 2022.

Interest is payable on any payments made in February rather than January, and therefore it is preferable still to pay the tax on time if you can.

If you haven’t had the chance to do your return yet for 2020/21, get in touch with us as we may be able to help!