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270,000 late penalty notices cancelled by the Revenue
4 May 2018

A response to a freedom of information request has revealed that HM Revenue & Customs (HMRC) cancelled 270,000 late penalty notices in 2016. However, this figure was dwarfed by the 610,000 cancellations in 2015 and the 400,000 cancellations in 2014. […more]

OTS calls for overhaul of ‘complex’ tax charges and reliefs
4 May 2018

An overhaul of “the complex patchwork” of tax charges and reliefs affecting businesses throughout various stages of the business lifecycle is urgently required in order to stimulate growth among small and medium-sized enterprises (SMEs), the Office of Tax Simplification (OTS) […more]

1.3 million SMEs hoping to branch out internationally to boost growth
4 May 2018

An annual survey suggests that some 1.3 million UK-based small and medium-sized enterprises (SMEs) intend to branch out overseas this year in a bid to expand their horizons and fuel their growth plans. According to CitySprint’s latest annual survey of […more]

Workplace pension contributions more than double
4 May 2018

The percentage of salary employers and employees must contribute to a workplace pension has increased from 6 April 2018. Employees will now contribute three per cent (up from one per cent) of their annual salary into a personal workplace pension, […more]

Dividend Allowance cut could cost you £1,143. Is it time to restructure?
4 May 2018

For a while, company directors have been able to make a tax-efficient living by taking a combination of salary and dividends due to the generous Dividend Allowance. However, changes which took effect from 6 April 2018 have cut the allowance […more]

Latest News

270,000 late penalty notices cancelled by the Revenue

A response to a freedom of information request has revealed that HM Revenue & Customs (HMRC) cancelled 270,000 late penalty notices in 2016.

However, this figure was dwarfed by the 610,000 cancellations in 2015 and the 400,000 cancellations in 2014.

The request was made by a partner in a ‘magic circle’ law firm, who was himself issued with a late penalty notice, despite having submitted his tax return in December, ahead of the 31 January deadline.

Despite having filed on time, when HMRC overturned the penalty in March this year, it nevertheless issued a letter, stating “if you file on time we won’t charge penalties”.

While HMRC revealed the number of late penalty notices that were cancelled over the three-year period, it did not disclose how many of these were the consequence of errors on the part of the Revenue, as opposed to the taxpayer having a reasonable excuse for late filing.

A spokesperson for HMRC said: “We don’t want penalties, we just want tax returns. Taxpayers with a reasonable excuse for filing late or who have been taken out of SA do not have to pay penalties. Taxpayers who file on time are not issued with penalties.”

Link: HMRC cancels 270,000 late penalty notices

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