Tax return deadlines and penaltiesPMC Partnership
Tax return deadlines and penalties. Remember HMRC will fine you £100 if your personal tax return is not submitted by 31st January 2018. If your tax return is then three months late, HMRC will fine you £10 per day up to £900.
Also if your tax is unpaid by the 1st March, HMRC will fine you 5% of any tax due, if unpaid by 1st August another 5% and if still unpaid next February another 5% ! As you can see the penalties quickly add up and often exceed your actual tax liability. Ensure your return is filed and tax paid by the deadlines and if you are concerned contact our office.