No penalties if 2019-20 self-assessment returns are filed by 28 February

Taxpayers will not receive a self-assessment late filing penalty as long as they file their return by 28 February HMRC chief executive Jim Harra has announced.

Taxpayers must still pay their bill by 31 January. Interest will be charged from 1 February on any outstanding liabilities. If required individuals can apply online to spread their bill over up to 12 months but they will need to file their 2019-20 tax return before setting up the arrangement.

Mr Harra said: ‘We want to encourage as many people as possible to file their return on time so we can calculate their tax bill and help them if they can’t pay it straight away. But we recognise the immense pressure that many people are facing in these unprecedented times and it has become increasingly clear that some people will not be able to file their return by 31...