Rethink on penalties
HMRC has issued a discussion document on penalties seeking views on how the tax penalty system could be made more effective.
HMRC is asking for views and evidence on how the current penalty system is working. It poses questions about future penalty regimes and other ways to encourage compliance.
One key revelation is that HMRC has suggested that the automatic £100 penalty may not be appropriate for someone whose return is only a few days late, especially if they are normally compliant.
Date: 5th March, 2015
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