ACCOUNTANTS, TAX CONSULTANTS & ADVISERS TO BUSINESS

121 Trewmount road, Dungannon, BT71 7EF

Revenue reminder on new tax return penalties

New penalties were introduced on 6 April 2011 for Self-Assessment customers who fail to meet their tax return and payment deadlines. HM Revenue & Customs (HMRC) is reminding individuals and businesses about new Self-Assessment penalties for late returns and late payments, which come into effect this autumn. The changes will affect Self-Assessment returns for 2010/11, and all future financial years. The new penalties for late Self-Assessment returns are: an initial £100 fixed penalty, which will now apply even if there is no tax to pay, or if the tax due is paid on time; after 3 months, additional daily penalties…
Read More