Extra time to settle your 31 July 2020 income tax
The Covid 19 pandemic has been challenging for millions of people who work for themselves, or who otherwise file a self-assessment tax return. Fortunately HMRC is allowing individuals to defer their next income tax payment on account.
If you’re a self-assessment tax payer, you’d normally expect to pay a second payment on account by 31 July this year. The taxman is giving you an extra six months to settle this bill, with no interest or penalties, providing you pay by 31 January 2021.
You don’t even have to apply or otherwise tell HMRC if you want to defer - though there are some conditions you should read about. For full details, visit the government website here