Stopfords
Stopfords

Changes to Late Filing Penalty For 2020 Tax Returns

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HMRC has announced that there will be no penalties for late filing of the Self Assessment 2019/20 tax returns which were due to be filed on 31 January 2021. The new due date is 28 February 2021.

Self Assessment tax payments due to be paid by 31 January 2021 still stand and interest will be charged from 1 February 2021 on any outstanding liabilities. For more information on how to pay your tax liability please follow the link.

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Anyone who is currently being paid a salary of £730 per month (or £168 p/week) in order to secure National Insurance Contributions should note that, from 6 April 2021 this should be increased to £735 (£170p/week).

View article about Directors and others on Minimum Salary 2021/22

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