SA late payment penalties waived until 1 April

Due to the current circumstances, self-assessment taxpayers have been granted an additional 4 weeks (until 1 April) to pay tax or set up a payment plan with HMRC without being charged the usual 5% late payment fee.

The ‘Time to Pay’ arrangement allows taxpayers to set up a payment plan to pay their taxes in monthly instalments up to January 2022.

HMRC also highlights that SA taxpayers making Payments on Account who know their 2020/21 tax bill is going to be lower than in 2019/20 bill can take action now to reduce their payments.

HMRC has urged any taxpayers worried about paying their tax and unable to set up a payment plan online to call 0300 200 3822 for support.