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.