Self Assessment taxpayers will not be charged a five percent late payment penalty if they pay their tax or set up a payment plan by 1 April, HMRC has announced.

The payment deadline for Self Assessment is 31 January and interest is charged from 1 February on any amounts outstanding.

Normally, a five percent late payment penalty is also charged on any unpaid tax that is still outstanding on 3 March. But this year, because of the impact of the COVID-19 pandemic, HMRC is giving taxpayers more time to pay or set up a payment plan.

Taxpayers can pay their tax bill or set up a monthly payment plan online at GOV.UK. ...