Penalties if you missed the filing deadline

tiemadmin • 1 February 2024

Have you missed the 31 January 2024 filing deadline for your 2022-23 self-assessment return?

If you have missed the filing deadline, then you will be charged a £100 fixed penalty if your return is up to 3 months late, regardless of whether you owed tax or not. If you do not file before 1 May 2024 then you will face additional daily penalties of £10 per day, up to a maximum of £900 unless you have arranged to pay HMRC.

If your tax return is still outstanding after 6 months, a further penalty of 5% of the tax due, or £300, whichever is greater will be due. And again after 12 months, another 5% or £300 charge, whichever is greater.

There are also additional penalties for paying outstanding tax late. These are 5% of that unpaid at 30 days, 6 months and 12 months. Interest will also be charged on any tax paid late.

You can appeal against any penalties that have been issued by HMRC if you have a reasonable excuse. However, you need to act fast, and the excuse must be genuine and HMRC can of course ask for evidence to support any claim. An appeal must usually be made within 30 days of receipt of the penalty.

If you do not have the necessary funds to make any payments due, you should be pro-active and contact HMRC as soon as possible. Pretending the problem does not exist will not make the problem go away and will likely make matters worse.

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