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All Paul Limited

17 Longwood Crescent, Shadwell, Leeds LS17 8SR

Serving Alwoodley, Shadwell, Roundhay and more.

Telephone: 0113 225 2232

Email: Send us a message by clicking here.

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ACCA Accountants in Leeds

Leeds Accountants, making a difference

© 2018 by All Paul Limited.        All Paul Limited is a company registered in England and Wales with company number of 08367537.

Director: Paul Clifton

  
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Business and staff entertaining - the tax consequences!

November 7, 2019

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What are the penalties for a late filed tax return?

February 7, 2014

 

Large tax penalties will apply to those people who fail to file their Tax Return on time. The penalties can easily rise to as much as £1,300 if you file your Tax Return six months late.

 

The longer the delay in filing the tax return, the larger the penalty that can be charged. Paper tax returns have to be filed by 31 October after the end of the tax year, rather than 31 January for electronic submitted tax returns.

 

The late filing penalty is £100 if the Return is filed one day late, even if you do not owe any tax. If the Return is filed up to three months late, a further penalty of £10 per day is charged to a maximum of £900. If the Return is filed six months late a further penalty of £300 or 5% of the tax due, if higher, is charged.

 

A further penalty of £300 or 5% of the tax due, if higher, is charged if the Return is still outstanding after 12 months.

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