Self-assessment late filing penalties are issued when a tax return is filed after the official deadlines. For the 2016/17 tax year the deadlines are 31st October 2017 if you file on paper and 31st January 2018 if you file online. Filing after these dates will mean an immediate late filing penalty of £100 being issued.
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 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:
If you have a genuine reason for not filing your tax return on time you can appeal to HMRC for the penalties 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, giving your reasons for appealing. Their address is: Self Assessment, HM Revenue and Customs, BX9 1AS.
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. More information can be found online by visiting: www.gov.uk/check-if-you-need-a-tax-return or by calling HMRC.
This article is by Tax Help for Older People (operated by registered charity no 1102276/Scotland no SC045819), offering free tax advice to older people on incomes below £20,000 a year. The Helpline number is 0845 601 3321 or geographical 01308 488066
Posted in: Tax Tips