June 29th, 2011

Huge Tax Penalties ahead for Late Filing

With the summer stretching out before us the last thing on the mind of many people will be getting their tax return done. But it’s worth remembering the massive increase in penalties for late filing.

For 2011/12 there’s a new set of automatic penalties which are a real deterrent. For example, someone filing their return on 31 July 2012 (six months late) will owe a whopping £1,000 in penalties – plus a further £300 or 5% of the tax owed (whichever is higher).

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HMRC Penalties

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Director

John manages a wide portfolio of owner managed businesses and oversees the smooth operation of the firm’s payroll department.

After obtaining his degree in mathematics from the University of Liverpool, John joined Jonathan Ford & Co in 2004 and qualified as a chartered accountant four years later. John likes to keep abreast of developments in tax and accounting and is responsible for the mentoring of junior staff.

Outside of work, John enjoys keeping fit and is a Liverpool FC season ticket holder.

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