Global Employer Services News January 2022

HMRC update – waiver of late penalty and late payment fees

HMRC has recently announced that they will be waiving late penalty and late payment fees for tax payers filing self-assessments returns until the 28 February due to Covid-19 pressures. However, the deadline to file self-assessment returns will remains 31 January and HMRC advises that returns are filed in advance of the deadline.

The penalty waiver will account for those who:

  • are not able to file their return by the deadline of 31 January 2022
  • are not able to pay their self assessment tax by the 31 January 2022 but pay their tax due in full or have set up a “Time to Pay Arrangement” by the 1 April 22

As stated above HMRC advise that all should still aim to pay self assessment tax and file returns by the 31 January 2022. Interest will be payable from 1 February 2022 as usual.

If you require any further information, please do reach out to your BDO contact.

Andrew Bailey