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For Income Tax Self-Assessment, payments due on the 31 July 2020 may be deferred until 31 January 2021.
For Income Tax Self-Assessment, payments due on the 31 July 2020 may be deferred until 31 January 2021. You are eligible if you are due to pay your second self-assessment payment on account on 31 July. You do not need to be self-employed to be eligible for the deferment. The deferment is HOWEVER optional. If you are still able to pay your second payment on account on 31 July, you should do so. This is interesting as it is does not just relate to the self-employed (as previously implied) but is putting a moral imperative on those with savings etc to pay. It will therefore now help those company directors living off dividends and those with property income who are not technically self-employed.
On 25 November Chancellor Rishi Sunak delivered his latest Spending Review to the House of Commons, and stated that the coronavirus (COVID-19) pandemic has caused 'lasting damage' to the UK economy.
26 Nov 2020
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