Well over half a million taxpayers are set to be hit with daily fines of £10 after failing to file their tax returns. The daily fines of £10 start from the 1st May.
On May 1, three months after the January deadline, a daily fine will be levied on those who have not processed their tax return. In addition to the earlier £100 penalty, they will be hit with the daily £10 fine, up to a maximum of £900. Those who allow the filing delay to extend beyond six months are handed another £300 fine or 5% of the tax due, whichever is higher.
HMRC is then entitled to give those who fail to file within 12 months a tax demand up to 100% of the tax due instead.
Filing the tax return stops the penalty increasing and enables the appeal process to begin.
Completing your Tax Return correctly, particularly when non-resident, is not an easy task and also can be very time consuming. For only £130 we can complete and file your Tax Return for you and ensure you claim all the allowable expenses and reliefs you are entitled to (Tax Treaty Claims and Capital Gains are subject to a £25 surcharge), saving you tax. Simply provide us with the information we ask for then leave the rest to us.
We make it easy for you!