Self-assessment survey results and CT filing deadlines

Dec 14, 2020

The results of last week’s short survey on the self-assessment deadline are in favour of not extending the deadline but asking HMRC to suspend penalties automatically for three months (64 per cent of respondents). 5 per cent of respondents did not want any extension to the deadline or penalty suspension with 31 per cent in favour of extending the deadline. The Institute will continue to lobby HMRC for automatic suspension of penalties for a three month period given the outcome of the survey.

HMRC have also advised that, while they will not be extending the deadline for filing corporation tax returns, they are prepared to accept the impact of COVID-19 as a ‘reasonable excuse’ for late filing on a case by case basis. In such cases, where taxpayers contact HMRC in advance of the deadline they can arrange for late filing penalties to be deferred.