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5% Surcharge 28th or 29th February

5% Surcharge 28th or 29th February

If a client pays their Self Assessment Tax today, 29th February, will they receive the 5% surcharge? 

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By possep
29th Feb 2016 08:59

29/02/16

No it's tax not paid within 30 days of 31 January now

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29th Feb 2016 10:11

1st March

possep wrote:

No it's tax not paid within 30 days of 31 January now

So is 1st March OK or not ?

Personally, I think we're grand till 12 pm tomorrow.

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By Old Greying Accountant
29th Feb 2016 09:28

Agreed

Although HMRC seem to be a lot more unhelpful this year  -one client had an large unexpected balancing payment due to severe over-coding on PAYE, if he wants more than 14 days grace he has to give chapter and verse income and expenses, prove he is unable to raise funds elsewhere blah blah otherwise he will get the 5% surcharge if no formal arrangement on place, despite the fact he has offered around 55% today and the balance 31st March.

Even if he applied for a loan it would likely take over 14 days to arrange given his age and circumstances and seems to me they are being deliberately unhelpful to maximise the surcharges!

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By Mr_awol
29th Feb 2016 10:26

14 days OGA?
Arguably your client has had almost ten months to asses[***] and provide for his tax liability.

If they've got the 55% now then no surcharge will arise on that bit at least (or any POAs)

As for the OP - as already answered it's 30 days.

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29th Feb 2016 10:38

Dichotomy

Mr_awol wrote:
As for the OP - as already answered it's 30 days.

Ah - but possep's 30 days run out tonight.

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By Mr_awol
29th Feb 2016 10:45

True

lionofludesch wrote:

Mr_awol wrote:
As for the OP - as already answered it's 30 days.

Ah - but possep's 30 days run out tonight.

For the avoidance of any doubt*, the deadline is midnight tomorrow ;)

 

*Depending on your interpretation of 'midnight tomorrow'

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By Old Greying Accountant
29th Feb 2016 13:42

Yes but ...

Mr_awol wrote:
Arguably your client has had almost ten months to asses[***] and provide for his tax liability. If they've got the 55% now then no surcharge will arise on that bit at least (or any POAs) As for the OP - as already answered it's 30 days.

... has been on PAYE for 3 years and thought (not unreasonably) that all tax would be collected via his salary, it is just the fact HMRC had grossly over-coded him for two big reasons caused the problem, he hadn't rushed to get the paperwork to me for that reason!

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29th Feb 2016 11:23

1st March

I spoke with HMRC this morning and they confirmed that tax can be paid up to tomorrow, 1st March, for the surcharge not to apply.

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29th Feb 2016 11:25

30 days after the due date.

So 1 March 2016. Next year will be 2 March 2017.

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29th Feb 2016 17:58

FA 2009 SCHEDULE 56 PARA 1(5) 1


"The date falling 30 days after the date specified.....as the date by which the amount must be paid"

Couldn't be clearer.

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