Avrupa Times/London-HMRC WAIVES PENALTIES AGAIN FOR LATE SELF-ASSESSMENTAnyone who missed last month’s self-assessment deadline has until 28 February 2022 to file their tax returns online before being fined.The tax authority said COVID-19 had piled added pressure on individuals and tax advisers to beat the original deadline for online submissions.TREASURY’S PENSIONS TAX RELIEF BILL SOARS PAST £42BN.The costs involved with providing pensions tax relief are predicted to have increased to £42.7 billion in 2020/21, according to HMRC.Forecasts for the 2020/21 tax year showed another steady annual rise, following estimates of £41.3bn in 2019/20 and £38.2bn in 2018/19.The 2020/21 figure of £42.7bn was split between £22.9bn in income tax and £19.8bn in National Insurance contributions.
DEADLINE LOOMS FOR NEW HOSPITALITY AND LEISURE GRANTS
Eligible businesses in England have until the end of this month to apply for the new Omicron hospitality and leisure grants.The Treasury announced more support for hospitality, leisure and accommodation businesses before Christmas last year.Chancellor Rishi Sunak said at that time the Treasury was “stepping in with a new grant scheme” as part of a new support package worth £1 billion.
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