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HMRC penalties
‘May Day Call for Tax Returns’ by HMRC
HMRC have issued a press statement aimed at anyone who was due to complete a SA Tax Return by 31 January 2012 but has not. The reason for this is that HMRC’s penalty structure allows for an initial fixed penalty in the sum of £100.00 to be imposed for late receipt after 31 January, with [...]
Budget 2012 – Other
Statutory Residence Test At Budget 2011, the Chancellor announced that there would be a reform of the taxation on non-domiciled individuals and the introduction of a Statutory Residence Test. One of the reasons that this was prompted in the first instance was as a result of the long-running case involving Mr Robert Gaines-Copper and HMRC, [...]
Self Assessment Tax Return Reminder
In its New Year message, HMRC have issued a reminder to those who have still got to complete their Tax Return for 2010/11. This has to be filed: Online, and By midnight 31 January 2012 The quote from HMRC says: Missing the 31 January deadline will mean that Self-Assessment taxpayers will face penalties…. we want [...]
HMRC consults on further simplification of 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, countless (actually over 300) other “regulatory” penalties that apply to specific [...]
