Despite the fact that HMRC have now allowed you to file your tax return a month late, you will still be whacked with a 5% surcharge on any tax not paid by 31 January.
In effect making the 1 month "grace period" for filing somewhat irrelevant!
Details as per CheapAccounting.co.uk
Tax does have to be taxing.
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Now come on Ken, don't be disingenuous! A business will know what's due by 31 Jan as they've kept up to date with their tax affairs haven't they? And their accountants will have advised them anyway.
ReplyDeleteSo it's right the surcharge is levied.