We are now nearly a month past the Tax Return filing deadline.
If you missed the deadline for submitting your Return or paying your bill you will get a penalty.
You’ll get a penalty of £100 if your tax return is up to 3 months late. You’ll have to pay more if it’s later;
3 months late:- £10 for each additional day (capped at 90 days), plus the £100 initial fine – maximum of £1,000
6 months late:- Either £300 or 5% of the tax due (whichever is higher), on top of the penalties above
12 months late: An additional £300 fine, or 5% of the tax due, plus the above penalties. In the most serious cases, you may be fined 100% of the tax due.
You could also face the following penalties if you pay late:
After 30 days: a charge equal to 5% of the tax outstanding,
After six months (31 July): a further 5%.
After 12 months (31 January the following year): an additional 5%.
These charges are separate, and in addition to, any charges for filing your tax return late.