Save content
Have you found this content useful? Use the button above to save it to your profile.

Would increased late filing fees deter last minute punters ?

31st Jan 2014
Save content
Have you found this content useful? Use the button above to save it to your profile.

Some people by nature are late , late, late and it is water of a duck's back . This really bugs the type A people (like I used to be but no much any more) ) . So the question is whether hiking it up in rapid increments would simply raise wedge more tax or make them file on time ? A very close friend of mine does it on 31st every - it's almost a rite of passage - his Dad is an FCCA no less !  The slightest delay and it's costing him £100 that he hasn't got to splash out , perhpas "waste" is a more apt word

Surely there is a tipping point for certian people - perhpas HMRC can advise us as to how many are serial offenders   

Tags:

You might also be interested in

Replies (5)

Please login or register to join the discussion.

Teignmouth
By Paul Scholes
31st Jan 2014 15:33

Not for the professional last minuters

I don't think so, mainly because most still rely on the accountant to get it in on time, if more of us said "no chance, do it yourself" that would be more of an incentive I think.

One of my serial laters (I have 2) once paid over £11,000 in the old £60 per day penalties for several year's SA returns, he also paid me £100 not to tell his wife.  This will be his last late year with me, he's sworn to meet our 3 month deadline this year, with his wife threatening to take away his manhood.

 

 

Thanks (0)
Replying to Tax Dragon:
Norman Younger
By Norman Younger
01st Feb 2014 18:36

Ultimate filing threat

So how exactly did his wife find out ......?

£100 is anyway far too cheap ,never undersell yourself  :-)

Thanks (0)
By plummy1
31st Jan 2014 17:48

Probably not

In a lot of cases I think it is just within peoples nature. When I studied my degree most people had finished their "essays" before I started them. Capital punishment doesn't seem to prevent people from murdering other people. An increase in the fine probably will not change a thing other than earn HMRC a little more money.  

Thanks (0)
By ShirleyM
31st Jan 2014 18:08

We have one client that has never submitted a tax return

.. and it's a partnership, too. Two years penalties, soon to be three years!

We have money up front from this client so we haven't disengaged. I think I'd better get around to it and refund their money, less the admin & meeting costs, if any left over.

We check their account occasionally and none of the penalties have been paid. I wonder why HMRC aren't chasing payment?

Thanks (0)
Jennifer Adams
By Jennifer Adams
31st Jan 2014 20:27

See my post under 'Are we there yet'

I've nagged, written, threatened - you name it I've done it - even gone round to their business addresses to collect stuff.

But this years New Year resolution is never again - I've not had a day off for weeks and that incl weekends.

I'm exhausted, tired, fed up.

Off for a drink and then a pamper on Tuesday (hair do, pedicure, manicure - the lot!)

I have got the satisfaction of knowing that they are all in and now I just have to bill them and/or wait until HMRC refund their repayments to me.

I am surprised about one thing tho - HMRC's computer seems to have coped.

Thanks (0)