Self Assessment 14% jump in HMRC fines

Self Assessment 14% jump in HMRC fines

12/07/2019

If you file your self assessment tax return late you will receive an automatic penalty of £100. This increases after 3 months at a rate of £10.00 per day up to £900.00! Plus penalties start at 5% of the sum owed!

In the year 2016/17 331,000 people were fined by HMRC for later filing an increase from 291,000 in the previous year. That's a 14% jump!

HMRC are now far less sympathetic to excuses, HMRC points out that if customers are unable to pay on time they should contact HMRC as soon as possible to set up a payment plan.

For many people filing a self assessment tax return can be a worrying and daunting task. That is where we come in. At Winchester Bourne we have the specialists to help you to file your returns on time, to contact HMRC on your behalf and negotiate payment plans for you and to make sure you do not incur additional fines and penalties.

Our fees start at £120.00 plus vat for completing and filing a self assessment return for you.

Contact the team on 01962 715671 or email sarah@winchesterbourne.com. Let us take the worry away from you!

 

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