HMRC Late Penalty Charges

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.