FILE TAX RETURN BY JAN 31 DESPITE HMRC EXTENSION



January 28th, 2021.


Self-employed people have an extra month to file their tax return without penalty, but experts warn that you should stick to the original deadline.


Now you have until February 28 to file your return, as HMRC has decided to give businesses ‘breathing space’ amid COVID-19.

HMRC chief executive Jim Harra said: “We can reasonably assume most of these people will have a valid reason for filing late, caused by the pandemic.”

Why you should file your tax return by January 31 anyway
Warning about the potential outcomes of this news, Nimesh Shah, CEO at Blick Rothenberg, said: “There may be certain claims and elections that need to be submitted by January 31 (usually done via the tax return), and taxpayers need to be clear on the wider implications of filing after January 31 – they may not receive a £100 late filing penalty but there could be other


For the full story at smallbusiness.co.uk CLICK HERE.
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