P11D Benefit Omission - Penalty?

P11D Benefit Omission - Penalty?

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I've just realised that I omitted a benefit of a P11D that was filed on time for 2011-12.  The difference in tax due is £400.00. I know that I need to resubmit a paper amendment but can anyone advise on what sort of penalty this would attract.  There is an overpayment of some £300 on the account at present so HMRC. 

Many thanks in advance and I would be grateful to receive your replies.

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By eastangliantaxadvisor
08th Sep 2012 14:48

You will need to send them an amended P11d and P11d(b) form.

 

If you go to the following page, you will see that they will not penalise you if you take resonable care, which is

 

keeping accurate records to make sure your tax returns are correctchecking what the correct position is when you don't understand somethingtelling HMRC promptly about any error you discover in a tax return or document after you've sent it

http://www.hmrc.gov.uk/about/new-penalties/index.htm

 

You will have to pay the interest though!

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