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Self assessment deferral available to the self-employed

15 Jul 2020

Self-employed workers who are struggling due to the coronavirus (COVID-19) pandemic can defer their second 2019/20 self assessment payment on account, HMRC has reminded taxpayers.

The second self assessment payment on account for 2019/20 is ordinarily due at the end of July. However, the government has said that it will allow the self-employed to defer this payment as well as utilise the grants available through the Self-employment Income Support Scheme (SEISS).

Taxpayers do not need to contact HMRC to defer their payment on account; they can opt into the deferral by simply not paying their tax bill due by 31 July 2020.

If no payment is received, HMRC will automatically update their systems to show payment has been deferred and no interest or penalties will be incurred, providing it is paid in full by 31 January 2021.

Angela MacDonald, Director General of Customer Services at HMRC, said: 'We want to support taxpayers as much as possible as they face uncertainty and difficult circumstances. That's why we want to remind those who may struggle to pay a tax bill right now that they have the option to defer their self assessment payment. They don't need to do anything to take advantage of this deferral. By simply not paying, HMRC will know they have deferred and we will do the rest.'

We can help with all aspects of self assessment, including filing returns on your behalf. Please contact us.

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Chartered Tax Adviser

Registered in England, Company Registration number – 7906656. Registered Office – 58b High Street, Stony Stratford, Milton Keynes, MK11 1AQ. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.