Are you one of the half a million UK taxpayers who has recently received a penalty letter from HM Revenue & Customs for not yet filing your 2010/11 tax return?
Each fine is a minimum of £1,200 comprising £900 maximum daily penalties and a further penalty of £300 or 5% of the tax due (whichever is higher).
Anyone who has received a late-filing penalty and believes they should not be in self-assessment can apply to be taken out of the SA system. If HMRC agrees, they will waive the penalty.
If you would like help in getting up to speed with your tax affairs and avoid future penalties, please get in touch with Julia Whelan, tax partner at Curo Chartered Accountants on 01527 558539 or email [email protected]. Julia will calmly guide you through the tax system and help ensure your tax affairs are in order going forward.