Canceling penalties

The majority of working people can avoid penalties for being late with their self-assessment declarations. Obviously, the best option is always to submit your declarations on time.

However, if you are late and received an invoice to pay your penalty – don’t rush to do that. We can help to deal with this issue, so contact us immediately. Our vast experience allows us to provide professional assistance in various circumstances, even if to you they may seem hopeless.

If you are just one day late, you will be fined with the initial £ 100 penalty, whether you still need to or if you have already paid your taxes.

If you are three months late, you will be fined a penalty of £ 10 for each day but the final sum may not be more than £ 900.

If you are six months late, you will need to pay an extra 5 per cent on the amount you owe in taxes or a final sum of £ 300. (We will provide more information during the consultation).

If you are one year late to submit your declaration, you may be fined with even more penalties, which may reach a maximum of 100 per cent on the taxes you owe.

Since April of 2011 new procedures are in place regarding penalties and fines for late submission of declarations or not paying of taxes. The longer you procrastinate, the larger the fine will be. In some cases, Post-Brexit inter-state agreements allow the use of bailiff services to claim such outstanding debts.

These penalties are in addition to the interest which accumulates on the entire amount of unpaid taxes, including unpaid penalties, up until the date of the required debt settlement.

The mere fact that you received a fine for late filing does not exempt you from filing a return even after paying the fine. People often think that in this case there is no need to submit a tax return. Therefore we encourage you not to procrastinate and submit your tax return. Our specialists may be able to cancel your fines or make them smaller, whatever the circumstances. So, we urge you to contact us and receive the guidance you desire.

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