HMRC WAIVES PENALTIES AGAIN FOR LATE SELF-ASSESSMENT
Anyone who missed last month’s self-assessment deadline has until 28 February 2022 to file their tax returns online before being fined.
HMRC said last month that fines would not be enforced on taxpayers who missed the 2020/21 deadline at midnight on 31 January 2022.
The tax authority said COVID-19 had piled added pressure on individuals and tax advisers to beat the original deadline for online submissions.
It is the second successive tax year that such a decision has been taken on self-assessment penalties, due to the pandemic.
Anyone who could not pay their tax bill by 31 January 2022 has until 1 April 2022 to either pay their liability in full, or set up a time-to-pay arrangement.
A 5% late-payment penalty will be charged if tax is not paid or a payment plan has not been set up by midnight on 1 April 2022.
Interest, however, continues to accrue at 2.75% on any outstanding liabilities from 1 February 2022 onwards.
Angela MacDonald, deputy chief executive at HMRC, said: “We know the pressures individuals and businesses are again facing this year, due to the impacts of COVID-19.
“Waiving penalties for one month gives self-assessment taxpayers extra time to meet their obligations.”
The late-filing penalties (daily penalties from three, six and 12 months) will operate as usual from 1 March 2022.
You might be interested in...
10 Jul 2026
After his grandad died, TC Group Holbeach’s Digital Development Manager and keen cricketer, Jake Burton, thought a good way to honour him would be to fundraise for Alzheimer’s Research UK. Five years on, he’s raised £67,000 and counting.
Learn more
How TC Group’s Jake Burton raised thousands to help fight dementia
07 Jul 2026
Could your business run without you? Explore why owner dependency is a major risk and how early succession planning can protect continuity and value.
Learn more
Succession Starts Long Before You’re Ready To Leave
07 Jul 2026
Making constant decisions is taking its toll on business owners. Explore why decision fatigue happens and how to build clarity into everyday decision-making.
Learn more
Decision Fatigue Is Not Weakness – It’s A Leadership Risk
07 Jul 2026
In a fast-moving, uncertain world, business owners need clarity, not certainty. Discover how real-time insight supports better decisions.
Learn more
Clarity Over Certainty: How Business Owners Can Regain A Sense Of Control
07 Jul 2026
In a world where certainty is no longer the norm, the businesses that succeed are those that keep moving. Drawing on insights from 1,500 UK business leaders, Stephen Watts explores how leadership is evolving.
Learn more
Why standing still in business is no longer an option
01 Jul 2026
TC Group has given a clear signal of its commitment to the success of the region by moving its team to the heart of Bournemouth Christchurch and Poole (BCP).
Learn more
TC Group moves to the heart of Bournemouth