Tax Return Penalties

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HMRC have issued a statement reminding us that online Tax Returns for 2010/11 had to be sent by midnight on 31 January 2012, though Returns received on 01 or 02 February would be treated as having been received on the 31^st.  The statement continues that an immediate automatic penalty in the sum of £100 is due for late Returns, increasing in value thereafter – ‘The longer you delay, the more you’ll have to pay’.

HMRC also advise that an individual has until 31 March 2012 to appeal against a penalty for missing the deadline.

Comment

This is useful information for your employees in the event that they have missed the filing deadline.  Given the recent criticisms of HMRC for issuing penalties and being accused of revenue-generation, it is open and upfront of them to provide this information so quickly after the deadline has passed

Further Information

• HMRC  – Penalties Statement
• HMRC  –  Penalties for Missing the Tax Return Deadline
• HMRC  – Interest and Penalties if you don’t pay your Tax on time
• HMRC  – Making an Appeal if you have a ‘Reasonable Excuse’

Tags: 2010/11, HMRC, penalties, Tax Returns

This entry was posted on Sunday, February 19th, 2012 at 09:47 and is filed under Penalties. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.