HMRC Late Penalty Charges & Company house

If you are required to file a tax return for the year 2014/15 tax year and you have not done so by 31/01/2016, then you will be charged a penalty for late filing charge.

The charges works like this: if you have not filed online your return then

• £100 charged automatically
• 3 months late, then charges will be £10 per day for up to 90 days with maximum of £900 pounds.
• 6 months late charges will be 5% of tax due or £300 if greater
• 12 months late, 5% or £300 if greater.

Late tax payment

• 30 days late ,then charges will be 5% of tax due
• 6 months late, 5% of tax outstanding at that date
• 12 months late , 5% of tax outstanding at that date

As with regards to 2015/16 tax return this will be due by 31th January 2017 if filed on line and by 31th October 2016 if filed by post.

Company House late filing penalties

• If not more than one month then penalty charges is £150
• If more than one month but less than 3 months then is £375
• If more than three months but less than 6months then is £750
• If more than six months then the charges are £1500

Penalty doubled if accounts late is successive years.

Our friendly and approachable Accountants in Slough, Adam Accountancy can advise you personally on the ones that apply to you.

HMRC further details link 

Link for making payment for late filling with company house link