‘Late filing penalties’

£10 penalties from 1 May for overdue 2012 tax returns

Monday, April 29th, 2013

Fancy handing £10 a day over to HMRC from 1 May? Thought not!

If you’ve not yet submitted your 2012 self assessment tax return, you’ll be charged a late filing penalty of £10 per day from 1 May 2013, up to a maximum of £900. This is on top of the £100 penalty already charged for missing the 31 January deadline.

If you’re struggling to complete your tax return, speak with a qualified, experienced tax professional and aim to submit it as soon as possible.

It can get worse……returns more than 6 months late will result in a £300 penalty or 5% of the tax due, whichever is the higher. More than 12 months late….well, the penalties can increase further at that stage.

Don’t bury your head in the sand; aim to resolve this quickly and save yourself lots of money and hassle!

Curo April 2013.

How to appeal against a late filing penalty

Monday, February 25th, 2013

If you are one of the 850,000 UK tax payers who recently received a late filing penalty notice for 2011/12, you may feel that you have a reasonable excuse for not having met the deadline.

HMRC has its own definition for what constitutes a ‘reasonable excuse’ giving the following main examples:

  • a failure in the HMRC computer system
  • a serious illness, disability or serious mental health condition has made you incapable of filing your return
  • your computer breaks down just before or during the preparation of your online return
  • you registered for HMRC Online Services but didn’t get your Activation Code in time

The penalties are treated on a case by case basis and remember to print or make a note of any error message details. The form for making a claim for late filing is found here and must be submitted within 30 days of receiving a late filing penalty.

If you’d like to discuss your situation with an experienced tax adviser, Helen Sewell can be contacted at [email protected] or call Helen on 01527 558539..

HMRC issues 850,000 late filing penalties at £100 each

Tuesday, February 19th, 2013

If you were late in filing your 2011/12 self assessment tax return, you will soon be receiving a late filing penalty through the post for £100.

And even if no tax is due, if you filed your return after the 31 Jan deadline, you are still liable to pay this fine.

For those still owing tax, settle any balancing payments amount as soon as possible as after 28 February you will also be subject to tax geared penalties of 5% of the 2011/12 outstanding amount.

Even more reason to file and pay up ASAP is the fact that the late filing and tax geared penalties will increase from April and July. At the end of July, the penalty for a late tax return jumps to a maximum of £300 with tax geared penalties still in force.

The message is simple: file and pay up as soon as possible to avoid incuring any further penalties.


Feb 2013.