Self-assessment payment on account deferral confirmed
Following some uncertainty, the Government have now updated their guidance to confirm that all self-assessment taxpayers, not just the self-employed, are eligible to defer their July 2020 payment on account until January 2021.
No application is required and the deferral is automatic.
The Government have stated that the deferral is optional and if you can make payment of your payment on account due on 31 July, you should do so. However, neither interest nor penalties will apply if you choose to defer the July payment.
The normal due date for the balance of tax of 31 January 2021 will apply.Talk to Barnes Roffe today