The Government is considering calls to waive fines for late tax returns for struggling businesses and freelancers.
Although they have ruled out an official extension to the January 31 filing deadline, HM Revenue & Customs has said it would accept coronavirus as a 'reasonable excuse' for missing the deadline. It has also extended the appeals window to three months.
Richard Wild from The Chartered Institute of Taxation said, “We have asked HMRC to waive late filing penalties for all returns filed before March 1 2021 in order to avoid adding further costs or compliance burdens at an already difficult time."
ExcludedUK a non profit grassroots NGO founded to provide a platform for those denied fair and adequate financial support from the Governments COVID-19 Support schemes since the pandemic began in March. With a community of over 60,000 members across all industries, age groups and regions, we estimate that three million UK tax payers have been excluded from the same support as others, which has lead to thousands of people losing their livelihoods, careers, and homes, and sadly, for some, their lives.
ExcludedUK has been fundraising to provide urgent help and support for those affected in the forms of business and career advice, debt support and 121 counselling sessions within 48 hours. Please find more information on our website www.excludeduk.org.