HMCE will fine for Late Filing

HMRC will impose automatic fines of £100 on any individuals who fail to file a tax return by 31 January, even if they do not owe any tax. Additional penalties may accrue starting from 1 May 2012, which could lead to an individual being fined £1,300 on 1 August for not filing a tax return even if they do not owe any tax. Meanwhile, those who do owe tax could be fined up to 100% of the tax due if they file their return 12 months late, in addition to incurring penalties of up to £1,300.

On 31 January last year, 572,000 Tax Returns were filed online (of a total of 6.9m) with almost 50,000 filed in the hour from 4pm to 5pm.

Taxpayers have until midnight on 31 January to file their tax returns online. However, those who are new to online filing will first need to register for HMRC’s online services, the deadline for which is Saturday 21 January in order to allow time for an activation code to be sent to their home address.

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