Deferral of Self-Assessment tax: COVID-19
In order to ease out the financial burden on the taxpayers, the government has loosened the self-assessment payment deadline. Taxpayers in the UK required to pay self-assessment tax and have second payment on account to be paid can choose to defer of self-assessment tax payment until 31 January. HMRC will not charge any interest or penalties on any such deferral.
All the UK taxpayers whose second payment on account liability falls due as on 31 July 2020 or those who have existing time to pay arrangement with HMRC shall be eligible for deferral.
How to defer self-assessment tax payment?
Deferral of self-assessment tax payment is an automatic offer. NO application is required.