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Help With Late Tax Returns

Help With Late Tax Returns

Vanessa Cresswell

Vanessa Cresswell

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Help With Late Tax Returns

Here at Three Kings Accounting, we cannot stress enough the importance of submitting your tax returns to HMRC on time. Many people aren’t fully aware of the implications of failing to do so by the deadline and so usually need help with late tax returns.

In this article, we are going to look at the penalties that can apply to these situations and how you can get help with your tax liability to avoid these unnecessary penalties.

The Range Of Penalties For Late Tax Returns

There are two types of penalty regimes that HMRC uses when it comes to income tax. The first is for filing your self-assessment tax returns late. The second is for not paying the ultimate tax bill by the deadline.

When it comes to filing your tax return, if this is up to three months late, you will face a fine of £100. If it’s even later than that, or if you do not pay your bill by the deadline, you will have to pay a fine in excess of this amount.

These later fines can be quite heavy. You will have to pay interest which will be charged daily after the three months.

If 90 days have passed, after the initial 3 months, and you have still failed to pay your tax bill, you will have to pay an extra penalty of £10 per day.

As you can see, these totals can begin to add up very quickly indeed, so it is vitally important that you keep on top of your self-assessment obligations.

Further Penalties For Deliberately Withholding A Tax Return

After 6 months, a further penalty which stands at either £300 or 5% of tax due hits you. And after a full year, the same penalty will apply again.

However, if the bill has not been paid after 12 months and HMRC believes you are deliberately withholding information, then the situation becomes a lot worse.

At this stage, 70% of the tax due can be added as a fine on top of whatever else is owed. It can even rise to 100% if there is deliberate concealment.

You don’t want to have to deal with these kinds of filing penalties or payment penalties. This is why it’s so important to stay on top of your taxes and get help when you need it.

How Three Kings Accounting Can Help With Late Tax Returns

Here at Three Kings Accounting, we offer both corporate and personal tax accountant services. Our services remove the headache of filling in all the paperwork yourself and keeping notes of all the payment dates.

Our specialist team will help with the completion of both personal and corporate tax returns. This includes online filing, advising on payment dates and how to pay. We can even deal with HMRC on your behalf, if you wish, taking out all of the hassles.

We have the experience and the professional accounting expertise to ensure you never have to worry about filing your tax returns late or being charged a penalty by HMRC ever again.

So, if you’re unsure of how to tackle your taxes and you don’t want to be hit by heavy fines, get in touch with us now. Call our team on 01753 840 188 or by emailing

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