Search

HMRC delays late payment 5% charge

The payment deadline for self assessment was 31 January 2021 and It has been extended to 28th February 2021. Interest is charged from 1 February 2021 on any tax amounts outstanding.


A 5% late payment penalty is also charged on any unpaid tax that is still outstanding on 3rd March. But this year, because of the Covid-19 pandemic, HMRC is giving taxpayers more time to pay or set up a payment plan.


Taxpayers can pay their tax or set up a monthly payment plan online at www.gov.uk. They need to do this by midnight on 1 April to prevent being charged a late payment penalty.


The online instalment facility will allows taxpayers to spread the cost of their self assessment tax bill into monthly instalments until January 2022.


HMRC recognises the pressure affecting taxpayers due to the covid-19 and encourages anyone worried about paying their tax and unable to set up a payment plan online to contact HMRC for help and support on 0300 200 3822 which indicate they may be more flexible than normal years.


However, interest will still be charged on outstanding fee. If you are able to pay in full then it would be good idea to pay it. HMRC accept payment online, bank transfer and in the post office.


4 views0 comments

Recent Posts

See All
 

S K Punia Accountant

 

 

We get to know you: We will learn about your business and understand the industry it operates in, ensuring we always meet your expectations and deliver the best accountancy services support

You have one point of Contact: As other firms you will no longer first go to call centers and account mangers, at S K Punia Accountant you will have personal accountant who will be your main point of contact at all times saving you time and hassle.

We take care of numbers: You will no longer need to worry about sorting out tax bills and financial compliance for your business- from now on, We will take care of it all for you, giving you peace of mind and saving time to utilize toward your business growth.

Great Advice: We will ensure you keep as much of your earnings in the most tax efficient ways as possible in accordance with HMRC requirements.

Market Leading accounting software: We will ensure you have access to market leading accounting software such as Xero, Sage or Quickbooks and will provide you training

Weekend & Evening availability: Most of our clients have side business and also employed. We provide weekend and evening appointments saving you time and money by not taking the time off from work.

Why  Chose S K Punia Accountants?

Mobile: 07809568192

Phone:  02081273963

   Email:     info@skaccountant.co.uk

  • S K Punia Accountant Facebook
  • LinkedIn S K Punia Accountant
  • S K Punia Accountant YouTube
  • Twitter