Deadlines and penalties

Tax Return.

Paper Return.

Online Return.

Tax due.

 

Year ended 5 April 2018.

31 October 2018.

31 January 2019.

*31 January 2019.

* Payments on accounts may also be relevant.

Penalties

Return (submission).

Paper Return.

Online Return.

From 1 May 2018.

1 August 2018.

1 February 2019.

Year ended 5 April 2018.

£100.

£100.

Up to £900 after 3 months late.

£300.

£300.

£10 x 90 days.

6 months late.

12 months late

 Late payment.

30 days late.

6 months late.

12 months late.

5% of tax due.

5% of tax due.

5% of tax due.

If you are unable to pay you can avoid these surcharges by arranging a timetable for settlement with HMRC.

Companies

To.

Companies House.

Companies House.

HMRC.

HMRC.

What.

First accounts.

Subsequent accounts.

Tax due.

Corporation tax Return iXBRL accounts and tax computation

Deadline.

21 months from date of incorporation.

9 months following year end.

9 months and 1 day following year end date.

12 months following year end date.

Penalties – HMRC

One off late submission

Filing deadline

3 months late.

6 months late.

12 months late.

Penalty

£100.

£100.

10% of unpaid tax.

10% of unpaid tax.

Third consecutive late submission

Filing deadline

3 months late.

6 months late.

12 months late.

Penalty

£500.

£500.

10% of unpaid tax.

10% of unpaid tax.

Penalties – Companies House private companies

Failure to submit accounts or confirmation statements (Annual Returns) can result in the directors being prosecuted or the company could be removed from the register

Lateness.

Under 1 month.

1 to 3 months.

3 to 6 months.

Over 6 months.

 

Penalty

£150.

£375.

£750.

£1,500.

 

Companies House notes on penalties can be viewed here.

Payroll.

HMRC Deadlines.

What.

Real Time Information (RTI).

PAYE tax and CIS tax and Return.

Tax due.

IR35 report.

IR35 tax due.

P11d’s.

Class 1A NICs

Deadline.

On or before date of payment (many exceptions).

14 days after end of tax month – ie 19th.

9 months and 1 day following year end date.

Last day of tax year – 5th April.

14 days after end of tax month – ie 19th.

6 July following year end.

19 July following year end.

 

 

Penalties

These depend on the circumstances and the HMRC notes are here. For P11d’s check here.

Construction Industry Scheme.

CIS deductions are paid over to HMRC in the same way as PAYE deductions. A penalty of £100 is charged if the Return is late. A further penalty of £200 is levied if the Return is more than 2 months late. After 6 and 12 months penalties of £300 or 5% of the tax due are levied. 

VAT.

Deadlines.

To

What

Deadline

HMRC

VAT Return and payment

7 days in the second month following end of period if online.

 

Penalties – late registration

Behaviour

Disclosure

Penalty

Non- deliberate

Unprompted

Up to 30% of VAT if within 12 months

Non- deliberate

Prompted

10% to 30% of VAT if within 12 months

Deliberate not concealed

Unprompted

20% to 70% of VAT

Deliberate not concealed

Prompted

35% to 70% of VAT

Deliberate and concealed

Unprompted

30% to 100% of VAT

Penalties – late Return/Payment (Turnover under £150k)

Default

Surcharge

Period

First

None

12 months

Second

Usually 2% of tax

12 months from date of most recent default

Third

Usually 5% of tax

12 months from date of most recent default

Forth

Usually 10% of tax

12 months from date of most recent default

Fifth +

Usually 15% of tax

12 months from date of most recent default

 

Penalties – Inaccurate Returns

Behaviour

Disclosure

Penalty

Careless

Unprompted

Up to 30% of VAT

Careless

Prompted

15% to 30% of VAT

Deliberate not concealed

Unprompted

20% to 70% of VAT

Deliberate not concealed

Prompted

35% to 70% of VAT

Deliberate and concealed

 

50% to 100% of VAT

Published 20 October 2017

Updated 21 February 2018.