HMRC could be on the verge of changing its stance on reasonable excuses for late filing and penalty cases, according to tax tribunal judge Geraint Jones QC.
I have just received notification of a Client's penalties under FA2007, Sch 24. The actual wording is pretty obtuse, making it difficult for a Client to understand it.
The taxman has reminded individuals and businesses about new tougher self-assessment penalties for late returns and late
You will be aware that we are well into the new penalty regime. FA 2007, Sch 24 took effect from 1 April 2008.
Bloggs and co are registered under CIS scheme but mainly work for householders. They are having trouble understanding why they should deduct tax via CIS from the very occasional subcontractor.
PAYE late payment penalties have been in place for a year, but have not had an impact yet because of the way they are calculated.
I have recently taken over a limited company client and have just spent ages on the HMRC website trying to find details of paye penalties that may possibly apply.
Subject to consultation, new late filing and late payment penalties will take effect from 6 April 2011 for personal, trust and partnership tax returns.
Can someone guide me as to what/whether interest and penalties will be due in the following scenario: