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HMRC has waived late filing and late payment penalties for Self Assessment taxpayers for one month

If you run a business, or are an investor or a trustee, it is important that you are aware of important dates and deadlines. Failure to do so can result in HMRC issuing penalties for late payment. Normally, late filing penalties are applied to all returns due on but filed after the 31 January deadline. This year, like last year, HMRC are waiving late filing penalties for Self-Assessment taxpayers for a month, giving you extra time, if you need it, to complete your 2020/21 tax return and pay any tax due. Self Assessment late payment penalties waived – more information below.

Late filing penalties will not be charged for online tax returns received by 28 February ’22.

HMRC recognises the pressure faced this year by Self-Assessment taxpayers and their agents. COVID-19 is affecting the capacity of some agents and taxpayers to meet their obligations in time for the 31 January deadline. The penalty waivers give taxpayers who need it more time to complete and file their return online and pay the tax due without worrying about receiving a penalty.

Self Assessment late payment penalties waived however, the deadline to file and pay remains 31st January 2022. The penalty waivers will mean that:

  • if you cannot file your return by 31st January ’22 deadline – you will not receive a late filing penalty provided you file online by 28th February ’22
  • if you are unable to pay your Self-Assessment tax by the 31st January ’22 deadline – you will not receive a late payment penalty provided you pay your tax in full, or set up a Time to Pay arrangement, by 1st April ’22

Interest will be payable from 1st February ’22, as usual, so it is still better to pay on time if possible.

The existing Time to Pay service allows any individual or business who needs it the option to spread their tax payments over time. Self-Assessment taxpayers with up to £30,000 of tax debt can do this online once they have filed their return.

Self Assessment late payment penalties waived
Self Assessment late payment penalties waived

We can help

If you find keeping up to date with all the changes in tax rules and regulations is too complex, or too time-consuming then we can help.  Our tax compliance and tax planning services make sure you pay the right amount of tax at the right time, and meet all your legal obligations.

We’ve been in the accountancy business for over 100 years and today we are here to help you. Our vast experience means you have access to practical information and support no matter your business size or sector. If you would like a no obligation discussion about how we can help you and your business, please feel free to contact the team on 01992 444466.  We’re accountants for business and we’re here to help you grow.


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The information contained above is for general guidance purposes only. Whilst every effort has been made to ensure the contents are accurate, please note that each individual has different circumstances and it is essential that you seek appropriate professional advice before you act on any of the information contained herein. HB Accountants can accept no liability for any errors or omission or for any person acting on or refraining from acting on the information provided in the above

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