- A one-off, one-month extension to deadline would help industry to cope in these emergency times – Institute
7 January 2021 – Chartered Accountants Ireland has written to Chancellor of the Exchequer, The Rt. Hon Rishi Sunak MP, requesting that the government responds to the deteriorating COVID-19 situation by extending the tax deadline approaching for businesses at the end of the month. Chartered Accountants Ireland has over 4,500 members across Northern Ireland, and circa 2,500 members in GB who continue to be at the forefront of helping businesses navigate Government supports introduced as a result of COVID-19.
The pandemic has put increasing pressure on businesses in meeting regulatory and reporting obligations due to workplace health and safety requirements, staff resourcing, illness and childcare/caring constraints and the challenges of social distancing.
Chartered Accountants Ireland has been engaging with HMRC officials since last September, to highlight the difficulties businesses and accountants are experiencing in meeting the forthcoming self-assessment filing deadline of 31 January.
Commenting, President of Chartered Accountants Ireland, Paul Henry said
“The rampant nature of the virus in recent weeks necessitating a further severe lockdown in all regions of the UK introduces insurmountable obstacles to self-assessed businesses and individuals in their efforts to meet the forthcoming 2019/20 self-assessment filing deadline on 31 January 2021.
“Since the outbreak of the pandemic, the swift implementation of the Government’s practical COVID-19 support measures has provided considerable support to businesses and taxpayers. It is crucial that businesses continue to be supported now that the situation has evolved so considerably in recent days and weeks.”
Chartered Accountants Ireland highlighted to the Chancellor that the regulatory workload of businesses is already at least two months behind normal schedules due to the national lockdown in 2020 and further restrictions across the various regions introduced from October onwards.
Henry continued
“Although accountants will make every effort to ensure that as many tax returns as possible are filed on time for businesses, due to the extraordinary circumstances of the pandemic, there will be instances where it is just not practically possible to make the deadline.
“A short once-off extension of one month to the self-assessment deadline would help ease the pressures on businesses who have the necessary information for the preparation of their return but cannot safely provide this to their accountant due to the ongoing public health restrictions.”
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