Accountants and Tax Advisors

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We provide our clients with regular updates on changes in taxation regulation, news from the world of accounting and, of course, information about the latest developments at MK Tax & Accounting Ltd.

Penalties for Late Personal Tax Return



1 day late	A penalty of £100. This applies even if you have no tax to pay or have paid the tax you owe.
3 months late	£10 for each following day - up to a 90 day maximum of £900. This is as well as the fixed penalty above.
6 months late	£300 or 5% of the tax due, whichever is the higher. This is as well as the penalties above.
12 months late	£300 or 5% of the tax due, whichever is the higher. In serious cases you may be asked to pay up to 100% of the tax due instead. These are as well as the penalties above.