Don't Incur Daily Penalties - Get your 2010/11 Tax Return in Now!


Mitchell Charlesworth tax experts are urging anyone who has still not completed their 2010/11 tax return to submit it online immediately, as you will have been charged daily penalties from 1st May.

If you have any specific tax enquiries, or would like Mitchell Charlesworth to take the burden of tax return filing from your shoulders, contact us today by completing a quick enquiry form.

Anyone whose Self-Assessment return is more than three months late will be charged a further £10 penalty for each day it remains outstanding, up to a maximum of 90 days. This is on top of the £100 late-filing penalty that will have already been received.

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This means people who file their 2010/11 return online after 1st May will be liable to daily penalties, as the deadline for these was 31st January. Daily penalties for paper returns actually began on 1st February, as paper returns were due by the earlier deadline of 31st October 2011.

Looking ahead, further penalties of at least £300 (or 5 per cent of the tax due, if that is more) will be issued for returns that are between 6 and 12 months late.

The new penalties for late Self-Assessment returns are:

  • An initial £100 fixed penalty, which will now apply even if there is no tax to pay, or if the tax due is paid on time;
  • After 3 months, additional daily penalties of £10 per day, up to a maximum of £900;
  • After 6 months, a further penalty of 5% of the tax due or £300, whichever is greater; and
  • After 12 months, another 5% or £300 charge, whichever is greater.

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