Interest, penalties and surcharge: penalties: introduction for 2010-11 returns onwards
From October 2011, new penalties were introduced for Self Assessment tax returns filed late, and tax and NIC liabilities paid late. For the tax return years 2010-11 onwards, four specific types of penalty will apply.
- Late filing fixed penalty where the return is not filed by the return due date (for paper returns this is normally 31 October and for online returns, usually 31 January)
- Daily penalties will start to accrue if the return is not filed 3 months after the return due date. This is a charge of £10 per day, charged for a maximum of 90 days
- Late filing tax geared penalties where the return is not filed 6 months, and 12 months after the return due date
Late payment penalties for the amount unpaid 30 days after the payment due date with further penalties
- 30 days and 5 months after the due date
- 30 days and 11 months after the due date
These late payment penalties replace surcharges which still apply for years up to, and including, 2009-10. For further information, see section ‘Surcharge’ (SAM62000 onwards).