What will be the consequences if

I delay my self assessment tax bill?

Keeping in mind the increased pressures on the taxpayers as well as agents due to this new strain Omicron HMRC decided to waive the self assessment tax penalty.

HMRC has estimated that almost half of the self assessment tax payers have submitted their tax returns, however, if you are included in the other The deadline for the the tax year ending 5 April 2021 is 31 Jan 2021, you should have filed your self assessment and should have paid your t

If due to some unforeseen circumstances you are not abhalf who have not submitted your self assessment tax return for the tax year 2020 to 2021 you should do it by the deadline which is 31 Jan 2022, If you think you are not able to file your return and pay the tax due by the deadline provided you have a valid excuse for that as well you don't have to worry about the penalty charges as HMRC is waiving late filing and late payment penalty by extending the deadline by one month.

It should be noted that the deadline for the self assessment tax return is not extended, it is only the penalty which is waived. So the interest will still be charged on any outstanding payments from 1 Feb 2022.

The waiving of the penalty as announced by HMRC means the following:

● There would be no late filing penalty if they file the tax return by 28 Feb 2022 in case they are not able to file by 31 Jan 2022.
● There will be no late payment penalty if they pay in full or set up a time to pay arrangement by 1 April 2022. a 5% late payment penalty will be charged on any outstanding amount if the tax payment is not received or a payment plan has not been set by 1 April 2022.

However, you should not delay your filing and payments unnecessarily if you have all the information needed to file the tax return and and you have enough finances you should go ahead and file your tax return, make the tax payment and get done with it.

Filing your self assessment on time and paying your tax can be beneficial in the following ways:

● You will have one less thing to worry about. You might have other tax deadlines in the following months such as the VAT deadline.
● You will be more aware of your finances once you have filed your self assessment, you will have a fair idea about how much tax you need to pay and you can plan your future finances better.
● Although there is no late filing or late fee penalty, interest will be charged from 1 Feb in case you have not filed your self assessment tax return on time. The late payment interest rate is 2.75% on any outstanding amount.
● Even if you are not filing your self assessment tax return you need to make sure that the class 2 NI contributions are made on time . If class 2 NI contributions are not made on time the contributory benefits will be affected.

If you are looking for a tax agent to fill in your self assessment tax return contact Taxaccolega and our team of accountants in Croydon will help you meet your tax deadlines. Call us at 020 8127 0728

Source:https://www.gov.uk/government/news/hmrc-gives-self-assessment-taxpayers-more-time-to-ease-covid-19-pressures

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ID Verification Form For Companies House

From 18 November 2025, UK law will require all company Directors and Persons with Significant Control (PSCs) to verify their identity with Companies House.

Companies House will issue a personal code to PSCs.
Taxaccolega (ACSP) can help collect data and assist.
Please answer the questions and upload documents.

Personal Details

Fornames * Last Name * Date of Birth * Nationality * Place of Birth *

Contact Details

Current Address * Date you moved in at current address? * Previous Address(es) in last 12 months (if Any) Email * Phone *

Role in the Company *

I am a Director I am a Person with Significant Control (PSC)

Identity Documents

ID Document * Address Document *
Are you an Overseas Director and PSC? *

Additional (Overseas)

Overseas Supporting Docs *

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You are declaring that all documents and information provided by you are true and correct, you are consenting to use and store your personal data and consenting for Taxaccolega Chartered Accountants to act as Authorised Corporate Service Provider (ACSP) on your behalf.

I confirm that I have read and agree to the above Terms & Conditions and consent to the processing of my data by Taxaccolega Chartered Accountants for the purposes of identity verification with Companies House.

Terms & Conditions – Identity Verification Process

By submitting, you authorise Taxaccolega to process your data for ID verification with Companies House.

I agree to Terms*

1. Purpose of this Agreement
1.1 These Terms & Conditions apply to the collection and processing of personal data and identity documents required under the Economic Crime and Corporate Transparency Act 2023 and Companies House identity verification rules effective from 18 November 2025.
1.2 By submitting your details through our online form, you authorise Taxaccolega Chartered Accountants (as an Authorised Corporate Service Provider – ACSP) to process your information for the sole purpose of fulfilling the identity verification obligations set by Companies House.

2. Client Responsibilities
2.1 You confirm that all information and documents you provide are true, accurate, complete, and current.
2.2 You accept full responsibility for any false, misleading, or incomplete information supplied, and acknowledge that this may lead to penalties or rejection of your verification by Companies House.
2.3 You must notify us promptly of any change in your details (such as name, address, or role in the company) which may affect the verification process.

3. Our Role & Limitation
3.1 We act solely as an intermediary in submitting your information to Companies House.
3.2 We do not guarantee the acceptance, speed, or outcome of any identity verification by Companies House. The final decision rests solely with Companies House.
3.3 We shall not be liable for any loss, delay, penalty, or consequence arising from:
* (a) inaccurate or incomplete information provided by you,
* (b) delays or failures within Companies House systems,
* (c) rejection or failure of verification by Companies House, or
* (d) events outside our reasonable control.
3.4 Nothing in these Terms excludes liability for death, personal injury, fraud, or any liability which cannot be excluded under law..

4. Data Protection
4.1 We will process your personal data in accordance with the UK GDPR and the Data Protection Act 2018.
4.2 Your data will be used solely for the purpose of identity verification and related compliance requirements.
4.3 We will retain your information only as long as required by law or regulatory obligations.
4.4 We will not disclose your information to third parties other than Companies House or other parties legally entitled to it.

5. Client Consent
By ticking the consent box and submitting your details, you confirm that:
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• You consent to Taxaccolega Chartered Accountants acting as your Authorised Corporate Service Provider (ACSP) for identity verification purposes.
• You consent to the processing, storage, and transfer of your personal data and documents in accordance with Section 4 above..

6. Governing Law & Jurisdiction
These Terms & Conditions are governed by and construed in accordance with the laws of England and Wales, and any disputes shall be subject to the exclusive jurisdiction of the courts of England and Wales.

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What will be the consequences if I delay my self assessment tax bill?