google-site-verification: googlec7193c3de77668c9.html

HMRC: More than a million miss tax return deadline

Most also ensure they pay, or organise the payment, of tax owed. However, some aiming to pay their tax on Friday may have faced greater stress as a result of IT problems at Barclays.

While that may have caused frustration and some panic, most would not need to pay the tax until the start of March, so would not be fined as a result – assuming they completed the self-assessment process on time.

For those who missed the deadline, the financial penalties include:

  • An initial £100 penalty, even if there is no tax to pay

  • Additional daily penalties of £10 a day after three months, up to a maximum of £900

  • After six months, a further penalty of 5% of the tax due or £300, whichever is greater

  • After 12 months, the higher of another 5% of the tax due or £300 charge

“I’m urging anyone who missed the deadline, to submit their return as soon as possible to avoid any further penalties,” said Myrtle Lloyd, HMRC’s director general for customer services.

There are also fines for late payment of the tax owed, with interest added on top.

Appeals against a fine can be made either by filing in a form or by writing a letter to HMRC, but a self-assessment must have been completed before making an appeal.


BBC News

Views: 1

See also  Top chef reveals the two supermarkets that do great meat and fish - and shares most underrated store cupboard ingredient | Money News

Check Also

TalkTalk on brink of break-up as Octopus snares PXC network arm | Money News

TalkTalk, one of Britain’s biggest telecoms and broadband suppliers, is on the brink of being …

Romford shop selling second-hand school uniforms for only £5

An east London charity shop where parents can pick up school uniforms for £5 is …

Jeweller ‘priced out’ of Liverpool Christmas market stall this year

When silversmith Alex Healy was planning her return to work after maternity leave, the first …

Leave a Reply

Available for Amazon Prime