SA penalties hit 1.5m; more to come
HMRC this week confirmed that 1.5m individual taxpayers were hit with Self Assessment late filing and payment penalties following the 31 January deadline this year. And more are likely to be affected this year, says AccountingWEB tax editor Rebecca Benneyworth.
The figures obtained through a freedom of information request by request law firm and tax investigation specialist McGrigors this week show an 8% increase on the 2009-10 tax year. With 10m SA returns issued, 15% of taxpayers have been hit with penalties.