HMRC releases new penalties videos

HMRC has launched new online learning resources for accountants, providing tips and advice on penalties for inaccuracies in returns and documents.

The Revenue has a raft of learning resources for tax agents, including YouTube videos and downloadable transcripts, which it updates periodically.

Its latest seven-minute view covers many aspects of penalties for inaccuracies, including reasonable care and:

  • Where a penalty is chargeable
  • Types of behaviours associated with the penalty regime
  • Prompted and unprompted disclosures
  • Reductions and qualities of disclosures
  • Penalty calculations
  • Suspensions and appeals 

Here's a brief digest of what the video covers...

Continued...

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Comments
Julian Stafford's picture

HMRC video on penalties

Julian Stafford | | Permalink

I couldn't help notice that they have studiously avoided mentioning that penalties can be suspended or alternatively not charged if special circumstances apply. This is misleading and only tells half the story.