Self-assessment late filing penalties are issued when a tax return is filed after the official deadline.
Self-assessment tax returns must be submitted by midnight on the 31st January for the previous tax year.
For example, for the tax year 2017/2018 (that’s 6th April 2017 to 5th April 2018), the self assessment tax return is due by midnight January 2019.
Submitting your return after this date will result in an immediate £100 fine.
But that’s not it!!!
If it’s still not submitted then HMRC will continue to issue fines based on the following:
So, these penalties soon mount up to £1,600!
Contact us now so we can start to help you submit your tax return.
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