Category Archives: Tax Penalties

Alexander Accountancy - Business advice Burton on Trent

HMRC late payment interest rates to be revised after Bank of England increases base rate

The Bank of England Monetary Policy Committee announced on 2 February 2023 that it would increase the Bank of England base rate to 4% from 3.5%. HMRC interest rates are linked […]

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19% fail to file on time

HMRC has confirmed that more than 10.2 million people submitted their 2020-21 Self-Assessment tax returns by the 31 January deadline. This leaves over 2.3 million taxpayers or 19% that have […]

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HMRC’s new penalty regime

HMRC’s new points-based penalty regime for late submission and payment will start from 1 April 2022. The changes will apply in the first instance to

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No late online filing penalties until …

HMRC has announced that fines for taxpayers that file their Self-Assessment returns late will be waived until 28 February 2021. The filing deadline for 2019-20 returns remains at 31 January 2021. HMRC

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Did you file your tax return on Christmas Day?

A new press release by HMRC has highlighted that 2,700 taxpayers took the time to file their tax return online on Christmas Day with a further 8,500 taxpayers completing their tax returns on Boxing

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Tax returns filing deadline at the end of this month

The 31 January 2021 tax return filing deadline is not just the final date for submission of your Self-Assessment tax return but also an important date for payment of tax due to HMRC. This includes the

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Tax Return Deadline – January 31st 2020

Don’t pay the penalty? Beat the Tax Return deadline If HM Revenue & Customs have issued a notice for you to submit a Self Assessment Tax Return for the year to 5th April 2019, you […]

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Tax Return Deadline – January 31st

Don’t pay the penalty? Beat the Tax Return deadline If HM Revenue & Customs have issued a notice for you to submit a Self Assessment Tax Return for the year to […]

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