What should be the amount of the Late Filing Penalty for submitting my 2010/11 Tax Return on 11/04/2012?

fodigie
by fodigie 16 August 2012  |  Comments 1 comments  |  Love Love  0 loves

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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  • MikeGG1
    Love rating 879
    MikeGG1 posted

    Yes!

    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 | Love Love  0 loves Report

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