Changes to late filing penalty for 2019-20 Self Assessment Returns

Today HMRC has announced that Self Assessment Tax Returns for 2019-20 will not receive a late filing penalty as long as the Return is filed online by 28 February.  However, Interest will still be charged from 1 February on any outstanding liabilities.   Therefore, we are encouraging our clients to still aim to file Returns and pay their tax liabilities by 31 January, if possible.