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penalties
P35 Reminder (2)
HMRC has issued another reminder to employers that the P35 and P14 deadline is 19 May 2012 for the tax year that finished 05 April 2012. They are writing to all employers who have not, yet, sent in their return advising of the penalty charges that will apply for late returns. See our table below: [...]
Welfare Reform Act
After its first reading in the House of Commons on 16 February 2011, and after suffering many readings, defeats and amendments along the way, the Welfare Reform Bill received Royal Assent on 08 March 2012. Iain Duncan Smith, Work and Pensions Secretary, called the new Act ‘an historic moment for the Coalition Government’ and ‘the [...]
HMRC Issues Self-Assessment Penalties
From last week, HMRC began a two-week process of issuing penalty notices for over 800,000 taxpayers who failed to meet the 31 January 2012 deadline for online filing 2010/11 tax returns and the payment of any outstanding tax ( In fact, this deadline was extended this year to 02 February 2012 in light of industrial [...]
Tax Return Penalties
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 31st. The statement continues that an immediate automatic penalty in the sum of £100 is [...]
P35 Filing Penalties
We 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 [...]
P11D Penalty Notices
In their latest update, HMRC have advised that, from last week, P11D(b) Penalty Notices have started to be issued – this is the form on which an employer makes their annual Class 1A Return. The penalty is for tax year 2010/11, where P11D(b) Returns were due by 06 July 2011. The penalty is £100.00 per 50 [...]
Penalties for late filing of construction industry returns
The 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. [...]
New penalty regime for tax avoidance non-compliance
In a consultation document issued at the time of the 2009 Pre-Budget Report, HMRC sought views on a number of proposed changes to the statutory Disclosure of Tax Avoidance Scheme rules. They were originally introduced by means of the Finance Act 2004 but have been developed extensively since then and now apply to income tax [...]
