If you are one of the estimated one million who still don't have their tax affairs in order (the deadline was Thursday 2 February)you may well be slapped with a heavy fine. HMRC will fine you £100.00 for the first late day, so if you still haven't submitted your return whether or not you owe them money you definitely owe them this.
After three months of being late you will be charged £900.00, this is a £10.00 daily charge for up to 90 days. After six months you will have to pay another £300.00 and by January next year another £300.00 will be added. So you could end up owing £1600.00 even if you have no tax to pay.
If your return is still lying in your in tray what can you do? HMRC is quite tough on people who have missed the deadline and rarely accept excuses.
The usual excuses of blaming your accountant or saying it got lost in the post will not be accepted.
If you have a genuine reason then you must give them evidence such as a doctor's note or a report by a technician to prove that your computer really crashed.
So if you have a legitimate excuse make sure that you can back it up or get your return in today. businessgrowthnow.co.uk
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