| HMRC has announced that it will not charge: |
| 1. Late filing penalties for those who file online by 28 February 2022. 2. Late payment penalties for those who pay the tax due in full or set up a payment plan by 1 April 2022. Full details here: https://www.gov.uk/government/news/hmrc-gives-self-assessment-taxpayers-more-time-to-ease-covid-19-pressures |
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The Government has announced that MTD for Income Tax Self Assessment will now be introduced a year later, in the tax year beginning April 2024. General partnerships will not be required to join the scheme until the tax year beginning in April 2025. It will be confirmed at a later date when all other types of partnerships will be required to join. Penalties for the late filing and late payment of tax for ITSA will also be delayed until April 2024 and for all other ITSA customers in the tax year beginning in April 2025