2014/15 SA liability was £4,268 due 31/1/16 but not paid until 11th March 2016.
I expected to see 5% surcharge of £213 plus interest from 1/2/16. HMRC have sent a statement showing "30 days late payment penalty for 2014/15" of £141.00 plus interest of 71pence, can anyone explain this for me as I am stumped how they have arrived at the figures.
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Is the 2014/15 liability excluding the first payment on account around £2,820? Perhaps they've excluded the first POA. That x 1.5 is £4230 (which would be the balancing payment and POA) and isn't far from your liability amount.
Does the £4,268 include the first 15/16 payment on account as 5% of 2/3 of the amount stated is £142.