Late Tax Return fines

Penalties for late tax returns…

If you miss the deadline for filing your tax return online or paying your bill, you could face harsh penalties.

You will be fined if you miss HMRC’s tax return deadlines – and under the new rules introduced last year the penalties can be high.

If you miss the final deadline to file your tax return HMRC will charge you £100.

If your return is still outstanding three months later, you’ll also be charged £10 a day- up to a 90 day maximum of £900. After six months, you face an extra charge of £300 or 5% of the tax due. If a full year goes past you will be fined another £300 or 5% of the tax due. You may be asked to pay up to 100% of the tax due instead of this, but you will still have to pay all the other charges.

Late payment penalties

Things only get worse if you also fail to pay your tax bill on time. The deadline for paying tax for the  is 31 January. If you miss this deadline you’ll be charged interest from the date the payment was due. The interest rate varies – you can check the current rate payable on HMRC’s website.

If any of the tax bill remains unpaid by 28 February, you’ll be charged a 5% surcharge. An additional 5% is imposed on any of the tax bill which is unpaid by 31 July.

So it is important to to get your late tax return filed with HMRC as soon as you can after the deadline to avoid further harsh penalties.


KWA Tax Returns Online – our service 

Completing your Tax Return correctly, without hassle, may not be an easy task and also can be time consuming. For just £130 (after tax relief £104) we can prepare and file your Tax Return for you without any fuss and ensure you claim all the expenses you are entitled to, saving you tax. Simply provide us with the information we ask for then leave the rest to us.




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