VW Taxation Ltd
Late Filing and Payment Penalties
If you are self employed, you are required to complete your Self Assessment tax return on time and pay any owed tax to HRMC by set dates. If you miss these deadlines, you will be issues a Late filing or Late Payment penalty.
Key dates for your diary
Don’t forget to add the dates below to your diary. The dates below reflect the Late Filing Penalties highlighted above.
Tax Year ends: 5th April
File your tax return on paper by: 31st October
File your tax return online by: 31st January
Pay your tax bill by: 31st January
Late Filing
| Late Filing | Penalty |
|---|---|
| Miss HMRC Filing Deadline | £100 |
| 3 months late | Daily penalty of £10 per day for up to 90 days (max £900) |
| 6 months late | 5% of tax due or £300, whichever is greater |
| 12 months late | 5% of tax due or £300, whichever is greater |
Late Payment
| Late Filing | Penalty |
|---|---|
| 30 days late | 5% of tax due |
| 6 months late | 5% of tax outstanding at that date |
| 12 months late | 5% of tax outstanding at that date |
If you miss the deadlines, we have experience in appealing late filing and payment penalties.
Contact us to find out more.
