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HMRC urged to waive late-filing penalties


With the self-assessment tax deadline fast approaching, HMRC has been urged to waive penalties as filers struggle amid the coronavirus crisis. The ICAEW has requested the Government reconsider its stance on late-filing penalties due to the impact of the pandemic, with chief executive Michael Izza writing to HMRC to suggest fines should be waived for at least two months. Pointing to the disruption stemming from the latest nationwide lockdown, staff absences due to sickness and self-isolation and continuing postal delays, Mr Izza said resources are stretched, adding: “To relieve the mounting pressure on tax agents and their clients, we believe that HMRC should announce an automatic waive of late filing penalties as soon as possible.”

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