With the deadline for submitting 2014/15 self assessment returns looming this Friday it seems topical to review the penalties around self assessment. There are penalties for: Not informing HMRC that a self assessment return is necessary (failure to notify) Late submission of a return Late payment of tax The penalties for failure to notify depend […]
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This week we have been dealing with an enquiry from HMRC into one of our clients. They did not advise us of a PAYE job that they had taken on in addition to their business and subsequently had additional tax and a penalty to pay. There are a few lessons to learn from this. 1) Clients
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