The extended the filing deadline for Self-Assessment tax returns passed on 28 February 2022
HMRC extended the filing deadline for Self-Assessment tax returns to 28 February 2022 in recognition of potential disruptions caused by Covid over the last year, but this deadline has now passed. If you have not yet filed your return and paid your tax urgent action is required. Interest started accruing on late payments from 1 February 2022, so time is of the essence because additional charges can build up quickly.
The table below sets out the penalties imposed for late payment of taxes.
Late filing | Late Payment | Penalty |
|---|---|---|
Miss filing deadline |
| £100 |
| 30 days late | 5% of tax due |
3 months late |
| Daily penalty £10 per day for up to 90 days (max £900 |
6 months late |
| 5% of tax due or £300 if greater |
| 6 months late | 5% of tax outstanding at that date |
12 months late |
| 5% or £300 if greater unless the taxpayer is held to be deliberately withholding information that would enable HMRC to assess the tax due |
| 12 months late | 5% of tax outstanding at that date |
12 months & taxpayer deliberately withholds information |
| Based on behaviour
Reductions apply for prompted and unprompted disclosures and telling, giving and helping. |
Taxpayers provide HMRC with all sorts of excuses as to why they have not filed their self-assessments on time, most of which HMRC reject and continue with raising penalties. In rare cases, HMRC may accept your reason for late filing, but the circumstances are quite narrow. HMRC’s view is that a reasonable excuse is only valid if it stopped you meeting a tax obligation that you took reasonable care to meet, for example:
Your partner or another close relative died shortly before the tax return or payment deadline
You had an unexpected stay in hospital that prevented you from dealing with your tax affairs
You had a serious or life-threatening illness
Your computer or software failed just before or while you were preparing your online return
Service issues with HM Revenue and Customs (HMRC) online services
A fire, flood or theft prevented you from completing your tax return
Postal delays that you could not have predicted
Delays related to a disability you have
They also expect you to send your return and payment in as soon as possible after the “reasonable excuse” is resolved.
If you have not yet filed your return, please contact us urgently.
At this stage, there will be a cost to resolve the issue, but Orange Genie Accountancy will do everything we can to control and reduce that cost. The earlier you contact us, the more successful that effort will be.
Switching accountants is easy. All you need to do is give us a call and we can take care of the rest. What are you waiting for, one of our accountants will be happy to have a free consultation with you to see how we can help. Just call us on 01296 468185.
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