If you've missed the deadline you'll have to pay a penalty of £100. You should send your tax return online as soon as you can to avoid further penalties. Don't send a paper tax return as the penalties will be even higher. The longer you delay, the more you'll have to pay. When your tax return is three months late, you'll have to pay a penalty for each additional day it is late. When it's six months late, you'll have to pay a further penalty and another final penalty when it's 12 months late. Together these can add up to a penalty of £1,600 or more.
Showing posts with label late return. Show all posts
Showing posts with label late return. Show all posts
Sunday, February 12, 2012
Missed the tax deadline?
If you've missed the deadline you'll have to pay a penalty of £100. You should send your tax return online as soon as you can to avoid further penalties. Don't send a paper tax return as the penalties will be even higher. The longer you delay, the more you'll have to pay. When your tax return is three months late, you'll have to pay a penalty for each additional day it is late. When it's six months late, you'll have to pay a further penalty and another final penalty when it's 12 months late. Together these can add up to a penalty of £1,600 or more.
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