HMRC plan to scrap £100 fines for late tax returns

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HMRC plan to scrap £100 fines for late tax returns

This is a duplicate of the Blog Entry made on 8th February 2015 11:29.

*The Government's £100 fine for late tax returns could be scrapped for hundreds of thousands of people who return the forms “a day or two” late* ...

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[SA Gold]

Re: HMRC plan to scrap £100 fines for late tax returns

are they getting a bit more flexible in their old age?



nah!

[PlanB]

Re: HMRC plan to scrap £100 fines for late tax returns

I've always thought it was illogical to fine a person for not telling HMRC that they don't owe them any money

The good thing about General Elections is that all sorts of promises get made as to what each party will do if they get voted in. The bad thing about General Elections in the promises get broken once that party gets voted in.

I only voted Tory last time because they pledged to lift the Inheritance Tax threshold to £1,000,000. And then they didn't.

[SXGuy]

Re: HMRC plan to scrap £100 fines for late tax returns

Up until tax year 2011. If you didn't owe any tax, they would scrap the late filing penalty. They decided in their wisdom. That it was an offence to not notify them of not owing any tax rather than, avoiding tax to pay.

However, with this being said, check out my latest post here HMRC Consults on changing rules for tax enquiries.

They give in one hand and take from another!

[pompeyfaith]

Re: HMRC plan to scrap £100 fines for late tax returns

Wonder if this has anything to do with the extra unnecessary workload caused by dud returns due to the many unemployed forced off JSA and registering as sole traders with little to no income made

[SA Gold]

Re: HMRC plan to scrap £100 fines for late tax returns

Wonder if this has anything to do with the extra unnecessary workload caused by dud returns due to the many unemployed forced off JSA and registering as sole traders with little to no income made

thats interesting Pomp. Are the job centre helping people on JSA to start up for themselves then?

[pompeyfaith]

Re: HMRC plan to scrap £100 fines for late tax returns

thats interesting Pomp. Are the job centre helping people on JSA to start up for themselves then?

No far from it although they should be, but when someone is sanctioned often very unfairly they have little to no income and have no option but to find other sources of income so they sign off which usually leads to sole trader and with keeping within the law they have to register as self employed and thus starts the process of tax returns which most do not have the experience in and with little to no help with will cause a headache to those at the tax office.

It is what Govt want a low unemployment figure however it causes problems in other departments.

[SXGuy]

Re: HMRC plan to scrap £100 fines for late tax returns

If they do less than 16 hours a week as self employed they still claim working tax credits instead of job seekers. Same amount of money but they are now classed as self employed and the unemployment figures look better. If what they earn including benefits is less than the national insurance threshold. No tax return is needed. However many don't understand the rules.

[vossy]

Re: HMRC plan to scrap £100 fines for late tax returns

I completely agree with the above, people on JSA are simply moved to other benefits to show lower unemployment figures, everyone I know and probably you know too in work says that their company is looking for or making people redundant, Its a sham and we all know it but the idiots in gvt think we are too thick to see it, I think they only preach to the people of London, if you are outside the M25 then you may as well be in oomegoolie land.

Back to the original post, forcing people to get the returns in on a specific date or face a fine is just daft, its asking for mistakes and creating a massive workload at one time of the year, before we had this deadline the tax returns were spread over the year, I also find that I would rather pay the hundred quid penalty and save myself many hundreds by getting the figures correct anyway.

[SXGuy]

Re: HMRC plan to scrap £100 fines for late tax returns

Thing is Vossy, you have 7 months to file your Tax Return, anytime after 6th April right up to 31st Jan the following year, there really is no excuse why people leave it to the last minute.

They can also, mark the return as estimated figures and submit an amended one later on if they wish, you have a further 12 months to do so.

I agree with everything else though.

[Deepie]

Re: HMRC plan to scrap £100 fines for late tax returns

Quick question sx ..if you are due a refund ...because you over paid last year ....when should you receive it ?

[SXGuy]

Re: HMRC plan to scrap £100 fines for late tax returns

4 to 6 weeks but depends how long ago u sent the return in. If it was at the last minute there maybe a backlog. Best to ring and ask. Also if u didn't fill out bank details or request a cheque on the return then it may sit on account. So best to ring to make sure