Filing your self-assessment late, could give you a bigger headache than trying to manage your tax affairs.
If you miss a deadline, you will be immediately liable for a £100 late filing penalty.
This applies even if no tax is payable.
Unfortunately it then gets worse . . . for each day you are late after missing the deadline, the penalty is £10 PER DAY – up to a maximum of £900 (90 days late).
After 90 days, a further £300 is added to the penalty.
So even if you have to file a self-assessment and no tax is due, don’t think the HMRC cannot penalise you.
For help with filing self-assessment, please get in touch . . .
