For taxpayers to avoid penalties (PA), they must make sure to file their self-assessment returns by the end of February.
According to the Independent, the end of February is the last day to file taxes for more than two million taxpayers to avoid penalties.
The due date for filing self-assessment tax returns is the end of February for more than two million taxpayers.
According to HM Revenue and Customs (HMRC), more than 10.2 million people filed their 2020/21 tax return by the usual January 31 deadline.
To avoid penalties for late filing, 2.3 million remaining customers must submit their late 2020/21 tax returns by February 28.
Prior to the announcement, HMRC announced that penalties on late tax returns and late payments would be waived for a month.
If you missed the January 31 deadline, but file before or by February 28, you won’t be penalized for filing late.
As usual, interest will be charged on all outstanding amounts starting on February 1, so it is still better to pay as soon as possible.
There were more than 630,000 self-assessment filings on the deadline day of January 31. The peak time was between 4 pm and 4.59 pm when 52,475 people filed.
In the last hour before midnight, 20,947 customers submitted their tax returns.
Director of customer services at HMRC, Myrtle Lloyd, said: “We’re waiving penalties this year, to give those who missed the deadline an extra month
“And customers can set up a monthly payment plan online if they’re worried about paying their tax bill. Search ‘self-assessment’ on gov.uk to find out more.”
