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Q&A » Tax
Am I right in thinking the £10 per day penalty only takes affect after 3 months ie. 30th April 2012. Please advise?
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879Yes!
Penalties for missing the tax return deadline
Length of delay / Penalty you will have to pay
1 day late / A penalty of £100. This applies even if you have no tax to pay or have paid the tax you owe.
3 months late / £10 for each following day - up to a 90 day maximum of £900. This is as well as the fixed penalty above.
6 months late / £300 or 5% of the tax due, whichever is the higher. This is as well as the penalties above.
12 months late / £300 or 5% of the tax due, whichever is the higher. In serious cases you may be asked to pay up to 100% of the tax due instead. These are as well as the penalties above.
Mike
Posted on 16 August 2012 |
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