Partnership return penalties

Partnership return penalties

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Have submitted partnership returns for 2008-2009 & 2009-2010,the returns were late and penalties were raised, on submission of the returns, which showed refunds due the individual's penalties were vacated, but when the refund came through HMRC had retained the penalties due on the partnership returns. Is this correct? can't find any info on HMRC website relating to this.

Thanks

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By Monsoon
24th Oct 2011 14:21

Yes

HMRC should have paid the tax refunds net of the partnership penalties due. Unless you've successfully appealed the partnership penalties, they are payable, no matter how much tax was or wasn't due.

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By gerawson
24th Oct 2011 16:13

re yes

thanks monsoon, never had one before and just seemed a bit strange that the individual penalties were squashed but the partnership return penalties remained due, I suppose it's due to there never being any tax due on partnership returns, just one of those anomalies. 

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