If you miss the deadline, the longer you delay, the more you’ll have to pay. So it’s important to send your tax return to HMRC as soon as you can.
| Penalties for missing the tax return deadline | |
| Length of delay | Penalty you will have to pay |
| 1 day late | A fixed penalty of £100. This applies even if you have no tax to pay or have paid the tax you owe. |
| 3 months late | £10 for each following day – up to a 90 day maximum of £900. This is as well as the fixed penalty above. |
| 6 months late | £300 or 5% of the tax due, whichever is the higher. This is as well as the penalties above. |
| 12 months late | £300 or 5% of the tax due, whichever is the higher. In serious cases you may be asked to pay up to 100% of the tax due instead. These are as well as the penalties above. |
Example
Mrs A’s tax return is due on 31 January 2012 but HMRC don’t receive it until 5 August 2012.
It is over six months late so she will have to pay all of the following:
- £100 fixed penalty
- £900 penalty – this is £10 each day from 1 May to 29 July, when the maximum 90 day penalty is reached.
- £300 or 5 per cent of the tax due – whichever is the higher.
