Harsher rules on late Tax Return penalties
Written by Ray Coman
HMRC have toughened the penalty system for late tax returns. With effect from the tax year ended 5 April 2011, automatic penalties now apply regardless of your tax liability. As such, even if you have no liability, or were due a refund, you are still liable to a minimum £100 if you were supposed to file a Tax Return and have missed the deadline. Penalties increase more sharply where a tax return is over three months late.
Coman & Co. Ltd. can help you avoid unwanted fines. We offer an efficient, online service. With our system you will be reminded well in advance of any relevant deadlines.
Please contact Coman & Co. Tax Accountants for advice on your tax situation. We are Chartered Tax Advisers and pleased to help with all your personal taxes no matter how straightforward or complicated.
Comments
You are welcome.
The article was written in January 2012 shortly after the introduction of the new rules, so I am not sure about 'finally.'
However I appreciate the compliment.
It is worth adding that penalties are not capped.
tax return penalties