Coronavirus

Fines to kick in after 28 February 2021.

Taxpayers could face fines totalling to £250 million.

50,000 small firms close every year due to late payments.

Self-assessment taxpayers can spread payments over up to 12 months.

The loans are part of the £280bn support package.

Around £1.8bn is expected to be paid out in claims.

Govt. should 'extend relief for the whole of 2021'.

Over 25,000 taxpayers rush to spread payments.

HMRC said the decision is not a blanket waiving of penalties.

14% expect to reduce headcount in the next three months.