Missed the deadline for 2010/11 tax returns - Act Now!
Fri, 10 Feb 2012 11:36:00
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The filing deadline has now passed and anyone who still hasn’t filed their 2010/11 tax return should send it to HMRC as soon as possible, as well as pay any outstanding tax due for the 2010/11 tax year. 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 of £10 per day, up to a maximum of £900. Further delays could result in a maximum penalty of £1600! In more serious cases, the penalty after 12 months can be up to 100 per cent of the tax due.  |
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