1.8 Million Still Late Filing Tax Returns – But No Penalty if Submitted by 28 February
About 1.8 million Brits have yet to file their Self Assessment tax returns. Good news: if they file online by 28 February, HMRC will waive the late filing penalty.
Interest and Penalties Mount for Late Payers
Anyone who missed the 31 January deadline for paying their Self Assessment tax bill is now racking up interest on what they owe. To avoid a hefty 5% late payment penalty, tax bills or payment plans must be sorted by 3 March 2021.
If you can’t file your return yet, pay an estimated amount pronto. This reduces both interest and penalties. Self-employed folks can use the handy 123 to find out how.
Beware of HMRC Scams
Watch out for dodgy copycat HMRC websites and phishing scams. Always search ‘self assessment’ on GOV.UK to get the official, secure link to file your tax return for free.
Be wary of phone calls, emails, or texts claiming to be HMRC offering financial help or demanding tax payments—they might be scams. Check GOV.UK for how to spot genuine HMRC communications.
