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New Penalty Regime

New Penalty Regime

Anybody had any experience of how the new  penalties are being operated  in practice. i.e Are they going for max possible.

Thanks for any comments.       


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09th May 2012 08:13

I'll let you know
We've sent a few Returns from clients whose brinksmanship was a little too hopeful. So I'll be able to report back on Returns sent in May 1,3,4,8.

I've assumed that there would be a de minimis limit. If it costs the Revenue to send a penalty then they aren't going to bother for £10 are they? Also I assume they haven't screwed up the legislation and that a Return filed on May 5 will incur 5 x £10 penalty.

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09th May 2012 14:12

HMRC guidance on new penalties


There are also guided learning packages for agents linked from the above.

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By Tosie
09th May 2012 20:09

thank you

Thanks for responses.

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