HMRC has extended tax return deadline, but taxpayers may still be penalised if they fail to pay dues by 31 January. Photo: Getty HMRC has extended their self-assessment tax deadline to 28 February but taxes still need to be paid by 31 January. The new extension for completing your taxes will come as a welcome relief to many, however those who don’t pay their taxes by the end of January will be liable for charges nonetheless. […] If a tax return has not yet been completed it is unlikely that the exact amount of tax due will be known, yet HMRC still requires tax due to be paid by 31 January. […] READ MORE: ‘A quarter’ of self-employed UK workers could face double tax bill this January For those taking advantage of the extension but still liable to pay taxes by 31 January, one possibility is to make a payment on account to HMRC approximating the amount of tax due.
Click here to read the full article