If anyone has still not filed tax return, HMRC will smake for late tax return. HMRC’s penalties get really nasty, horrendous from 1 May 2012. So if you don’t want smacked by HMRC – get your Return filed online by 30 April 2012. And if you need a professional to help you – then ask one soon - the clock is ticking to 30 April. We can help you on 028 9080 6080

1. HMRC to smack you for late Tax Returns
Written by: Adrian Huston
Anyone who has been issued with, and has still not filed, their 2010/11 Tax Return faces being smacked
with horrendous penalties from 1 May 2012. They will have already been fined £100 but that will soon
seem like peanuts.
For my YouTube video on this see http://www.youtube.com/watch?v=BrWiiJAQ2uM
The 2010/11 year is the first year when HMRC’s penalties get really nasty. The Self Assessment system
was introduced in 1996/97 and has always had a £100 penalty for filing the return late. Despite inflation
this fine never got raised, and so as a deterrent it became pretty useless. Furthermore if someone knew
their tax bill would be less than £100 they knew the penalty would be reduced. If their tax bill ended up at
£8.88 then the penalty would drop to £8.88.
Then for the 2010/11 year HMRC took the gloves off. Now if your return missed the deadline the penalty
of £100 sticks. Even if you owe no tax, even if you are due a tax refund!
For anyone who got hit with that penalty and have yet to file their 2010/11 Return then 30 April 2012
should be regarded as their absolute deadline, because things are going to get very unpleasant.
File your 2010/11 Return on or after 1 May 2012 and you will be charged a nasty £10 per DAY. So file on
11 May and the penalty will be £110.
These daily penalties continue for up to 90 days, so filing at the end of July will see you facing £900 of
penalties. And they won’t go away just because you owe no tax. Ouch!
On their part HMRC is trying to say, like a smacking parent, words to the effect of ‘I don’t want to hurt
you; I just want you to behave.’
In fact what HMRC’s Stephen Banyard is saying on the record is:

2. "We want the returns and not penalties. So, if you haven’t sent us your 2010/11 return, you need to do
one of two things urgently – either send it online by 30 April, or call us if you think you shouldn’t have to
complete one.”
So if you don’t want smacked by HMRC – get your Return filed online by 30 April 2012. And if you need
a professional to help you – then ask one soon - the clock is ticking to 30 April. We can help you on 028
9080 6080
Huston and Co
Address: 481 Upper Newtownards Road
City: Belfast
State: Northern Ireland
Zip: BT4 3LL
Country: UK
Phone(s): +44 (0) 28 9080 6080
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Email: Adrian@huston.co.uk
Website: http://www.huston.co.uk