Factsheet for measure
GB-2020-12/537
– measures in United Kingdom
Tax deferrals self-assessment July 2020 payment on account
Tax Deferrals Self-Assessment July 2020 Payment on Account
Background information
Generally individuals, including the self-employed, who file an annual tax return under self assessment are required to make two ‘payments of account’ during the year, which are advance payments on their tax bill: by 31 January and by 31 July. However, in his statement on the 20 March, the Chancellor announced that Chancellor announced that the next self-assessment payments would be deferred until January 2021.
The self assessment payment on account, that is ordinarily due to be paid to Her Majesty's Revenue and Customs (HMRC) by 31 July 2020 may now be deferred until January 2021.The deferment is optional and any persons who wish to pay their second self-assessment payment on account on 31 July 2020 may do so. This is an automatic offer with no applications required. No penalties or interest for late payment will be charged if someone defers payment of their July 2020 payment on account until January 2021.
The Coronavirus Act 2020 is relevant, in particular Section 76, which refers to the functions of HMRC.
Content of measure
Generally individuals, including the self-employed, who file an annual tax return under self assessment are required to make two ‘payments of account’ during the year, which are advance payments on their tax bill: by 31 January and by 31 July. However, in his statement on the 20 March, the Chancellor announced that Chancellor announced that the next self-assessment payments would be deferred until January 2021.
Details are given on the Government’s Business Support site. The self assessment payment on account, that is ordinarily due to be paid to HMRC by 31 July 2020 may now be deferred until January 2021.The deferment is optional and any persons who wish to pay their second self-assessment payment on account on 31 July 2020 may do so. This is an automatic offer with no applications required. No penalties or interest for late payment will be charged if someone defers payment of their July 2020 payment on account until January 2021.
Use of measure
No information available at present time.
Target groups
|
Workers
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Businesses
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Citizens
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Self-employed
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Does not apply to businesses
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Does not apply to citizens
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Actors and funding
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Actors
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Funding
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National government
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No special funding required
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Social partners
Social partners' role in
designing the measure
and form of involvement:
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Trade unions
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Employers' organisations
|
|
Role
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No involvement
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Consulted
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Form
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Not applicable
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Direct consultation outside a formal body
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Social partners' role in the
implementation, monitoring and assessment phase:
-
No involvement
-
Main level of involvement: Peak or cross-sectoral level
Involvement
N/A
Views and reactions
As before, the raft of packages have been unilaterally announced by government and have not ensued from a social dialogue process. However, it can be assumed that the social partners, particularly business groups, have been consulted with.
Sources
