HMRC: More than one million taxpayers took advantage of extra time to file tax returns
HMRC has revealed that more than one million customers filed their late tax returns in February – taking advantage of the extra time to complete their Self Assessment without facing a penalty.
About 12.2 million customers were expected to file a return for the 2020/21 tax year and more than 11.3 million customers submitted theirs by 28 February.
The deadline for submitting tax returns was 31 January but, this year, HMRC gave customers an extra month to complete it. If customers filed their returns in February, they would avoid a late filing penalty.
HMRC has given customers until 1 April to pay their outstanding tax bill or set up a Time to Pay arrangement to avoid receiving a late payment penalty. Interest has been applied to all outstanding balances since 1 February.
Myrtle Lloyd, HMRC’s director general for customer services, said: “We understand some customers might be worrying about paying their Self Assessment bill this year, and we want to support them. To see if you’re eligible to set up a payment plan, go to GOV.UK and search ‘pay my Self Assessment’.”
Lucy Frazer, financial secretary to the Treasury, added: “Today’s stats show how vital the extra month was in supporting the cash flows of more than a million self-employed people and businesses across the UK, helping to ensure their survival as we recover from the pandemic.”