Increased penalties on personal tax returns
The automatic penalty for failing to file personal tax returns by 31 January was £100.
You should, however, be aware that if returns have not been filed by 30 April an automatic £10 per day penalty kicks in and runs for 90 days. Still higher penalties are due if the failure to file continues beyond the end of July, up to a tax-geared amount of 5% of the liability shown on the return (or £300 if greater).
Date: 20th April, 2012
Articles from this Author
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole