Self-assessment late filing penalties are issued when a tax return is filed after the official deadlines. For the 2017/18 tax year the deadline was 31 October 2018 if you file on paper (31 January 2019 if you file online). Filing after these dates means an immediate late filing penalty of £100.
And it doesn’t stop there! For tax returns filed over:
So, these penalties soon mount up to £1,600! You need to act quickly to stop them. The first thing you need to do, if you haven’t already, is to get your tax return completed and filed. If you now file a tax return by paper, it is already over three months late and will be incurring daily penalties. Therefore, if you are filing a tax return now, the recommended method to choose to minimise penalties is to complete it online.
If you need help to do this, either contact HMRC on 0300 200 3310, a tax adviser or a tax charity. HMRC should help you to complete your return and, in some circumstances, may even provide a face to face appointment.
Contact HMRC immediately if:
Can you appeal?
You can appeal to HMRC for the penalties to be cancelled, if you have a reasonable excuse.
The following list is an example of what HMRC consider to be a ‘reasonable excuse’. It is not exhaustive, and neither does it mean that your penalties are guaranteed to be cancelled:
If you received your penalty letter by post, use the appeal form that came with it or follow the instructions in the letter. If you received your penalty notice by email, you can either fill in form SA370 (downloadable from www.gov.uk) or write to HMRC at Self-Assessment, HM Revenue and Customs, BX9 1AS, giving your reasons for appealing.
More information can be found online by visiting: www.gov.uk/check-if-you-need-a-tax-return or by calling HMRC.
Posted in: Tax Tips