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Penalties
Tax Return Penalties
Sunday, February 19th, 2012HMRC 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 31st. The statement continues that an immediate automatic penalty in the sum of £100 is [...]
P35 Filing Penalties
Sunday, November 27th, 2011We have not been shy of highlighting the spate of cases where HMRC have been criticised for charging penalties. There are two more cases to report this week from the First Tier Tribunal (Tax), together with a statement from HMRC. Bridge Utilities Ltd v HMRC Bridge Utilities were fined £800.00 by HMRC in respect of [...]
Penalties for late filing of construction industry returns
Friday, October 7th, 2011The new penalty and interest regimes for late filing of monthly construction industry returns come into force. Section 106 and Schedule 55 of the Finance Act 2009 created a new penalty regime for late filing of tax returns for most direct taxes, including income tax, PAYE, NICs, the Construction Industry Scheme (CIS) and pension schemes. [...]
Consultation on further penalty simplification
Friday, June 24th, 2011HMRC begins consultation on reforms to the remaining tax penalties. Since 2007, HMRC has introduced new penalty structures for common offences across the different tax and duty regimes. Those that impact on the taxes involved in payroll are: penalties for inaccuracies in returns penalties for late filing penalties for late payment. There are however, over [...]
HMRC consults on further simplification of penalties
Thursday, February 3rd, 2011Since 2007, HMRC has introduced new penalty structures for common offences across the different tax and duty regimes. Those that impact on the taxes involved in payroll are: penalties for inaccuracies in returns penalties for late filing penalties for late payment. There are however, countless (actually over 300) other “regulatory” penalties that apply to specific [...]
Questions from our forum 21/01/11
Friday, January 21st, 2011Each week we receive a number of payroll questions on our forum, and here are this week’s batch. Can you help with any answers? Forum posts: Calculating Leavers Salary We are all part time employees and we are paid on the 15th of each month in 12 equal payments. On Tuesday 23rd November, after finishing [...]
