Employment      New Self Assessment penalties for late filing and late payment

New Self Assessment penalties for late filing and late payment

Posted by admin on Jun 5, 2011

HMRC are changing the way they deal with people who don’t send their tax returns on time or who pay their tax late. The new rules mean that the more you delay the more you will pay. The new rules will apply if, for example:

  • you are late sending back your tax return for the year 2010-11 or any later tax year
  • you pay the tax you owe for 2010-11 or a later year more than 30 days late

 Source: http://www.businesslink.gov.uk/bdotg/action/detail?itemId=1087547464&r.l1=1075193191&type=ONEOFFPAGE

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