View more on these topics

HMRC fines 1.5m taxpayers for late self-assessments

HM Revenue and Customs has handed out fines to over one a half million people who were late filing their self assessment tax returns this year.

According to a freedom of information request by the Daily Telegraph, HMRC’s automatic penalty system jumped 8 per cent from last year and is up 56 per cent in the past five years.

The amount payable has also changed from a fixed penalty of £100 to a maximum of £1500, depending on the amount of tax owed. The next deadline for those looking to make paper returns, rather than use the internet, is October 31.

After the minimum fine of £100, a person is charged £10 for each day they do not file their tax return. There is a 90-day maximum of £900 on this fine.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm