HMRC payment plan

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File soon to apply for tax payment plan, HMRC saysSelf-assessment tax returns for income earned in the year to April 5, 2020 are due on January 31 and taxpayers are being urged to file returns soon if they want to take advantage of an offer from HMRC for those suffering financially due to the pandemic to delay this deadline and apply for a payment plan. The deal involves paying HMRC 2.6% interest on any outstanding tax after February 1st, but any late payment penalties will be avoided. HMRC said it was considering a request from industry bodies such as the Association of Accounting Technicians and the Institute of Chartered Accountants in England and Wales to delay the deadline until March or April.

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