Written by Melanie Jacobs, Head of Trusts and Tax

With the 31 January 2022 deadline fast approaching to file Self-Assessment Tax Returns and settle tax liabilities for the tax year 2020/2021, HM Revenue and Customs announced yesterday there will be some penalty waivers.   

For those who file their Self-Assessment Tax Returns online by 28 February 2022 and arrange payment of their tax liability either in full or set up a payment plan by 1 April 2022, HMRC have confirmed that no penalties will be issued in order to give customers additional time if needed.   Of course if you are able to file your Tax Return and settle your tax liability before 31 January 2022, HMRC encourage you to do so. 

If you require assistance with your 2021 Tax Return, please contact Melanie Jacobs, Head of Trusts and Tax on 01305 251007.