The tax return deadline is 31 January!!!
Despite a flurry of articles in the Sunday newspapers, the deadline for filing personal tax returned is still 31 January!! The speculation that everyone will get an extension is just that - speculation. And that is as at 11 January. Less than three weeks to go...
At this time of year, we usually quote Winston Churchill saying
"I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle."
This year, I fear the handle has come off the bucket, and despite promises of free straw from a Mr Harold Belafonte of New York, there remains something of a gaping hole in the bottom.
Meanwhile, unless and until HMRC relents, you will incur £100 penalty if you file your return late. Yes, you can appeal against that if you have a reasonable excuse – there is no change there. There may be Covid-19 or other very good excuses, but our advice is still to file on time if you possibly can. And keep safe.
UPDATE: On 14 January ICAS wrote again to HMRC asking for late filing penalties to be automatically waived....
UPDATE: On 25 January HMRC extended the filing deadline unti 28 February. Hurrah. Who would have expected a u-turn? But note that late payment interest at 2.6% will run from the normal due date.