More help with self-assessment tax bills
If you haven’t paid what you owe within 30 days of the filing date of your self-assessment return for that year, you’ll be charged a penalty. The good news is that HMRC has relaxed this rule for the 2019/20 tax year. What’s the full story?
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New HMRC guidance on winter fuel payments
HMRC has released new guidance on the recovery of winter fuel payments. What do you need to know?
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Festive tax breaks for remote workers
You’re familiar with the tax break for Christmas parties but you now have a few remote workers, and the company will need to reimburse their travel and accommodation costs if they attend an event. Which costs count towards the tax-free limit and how can you manage any overspend?
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New process for some exports starting in Northern Ireland
Starting next month, businesses that import goods via Northern Ireland will need to change their processes. What do you need to know?
HMRC has today (19 February) announced that self-assessment taxpayers won’t be charged the automatic 5% late payment penalty if they pay what they owe for 2019/20 or set up a payment plan by 1 April 2021.
Normally, a 5% late payment penalty is charged on any unpaid tax that is still outstanding on 3 March following the end of the tax year. But this year, because of the impact of the pandemic, HMRC is giving taxpayers more time to pay or set up a payment plan.
Note that HMRC will stick to the normal rule of charging interest at 2.6% per annum for all self-assessment bills not paid on time.
You can pay your tax bill or set up a monthly payment plan here. You need to do this by midnight on 1 April to prevent being charged a late payment penalty.
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