Failing to File Returns and New Penalty Regime

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The new penalty regime for late self-assessment returns are:

  • One day late: a penalty of £100, even if there is no tax to pay or tax due has been paid.
  • Three months late: £10 for each following day – up to a 90-day maximum of £900. This is in addition to the fixed penalty above.
  • Six months late: £300 or five per cent of the tax due, whichever is the higher. This is as well as the penalties above.
  • 12 months late: £300 or five per cent of the tax due, whichever is the higher. This is in addition to as the penalties above.

People who receive a late filing penalty can appeal if they think they have a reasonable excuse for not sending their tax return, such as a family bereavement.