News
Taxpayers urged to act promptly with late filing penalty appeals
The Low Income Tax Reform Group (LITRG) is calling on UK taxpayers who have received an automatic £100 late filing penalty for failing to submit their 2015/16 self-assessment tax return in time to appeal immediately if they have a 'reasonable excuse'.
The Low Income Tax Reform Group (LITRG) is calling on UK taxpayers who have received an automatic £100 late filing penalty for failing to submit their 2015/16 self-assessment tax return in time to appeal immediately if they have a ‘reasonable excuse’.
The charity states that taxpayers should not be resigned to accepting the penalty and must at least attempt to appeal the fine before settling up with HM Revenue & Customs (HMRC) about the tax they owe.
A spokesman for the LITRG said: “Flooding or severe weather problems, but also life events such as serious illness or bereavement, and other causes beyond the taxpayer’s control [are reasonable excuses that HMRC generally accepts].
“It is important that even if a reasonable excuse is established, the taxpayer files without unreasonable delays once the excuse has ceased.
“For example, if illness prevented them from filing on time, they must file as soon as reasonably practicable when they recover from their illness.”
Those who have already received a penalty notice may have already received an appeal notice from HMRC, but if not, the appeal paperwork can also be downloaded from GOV.UK.
If you need guidance regarding your 2015-16 tax affairs, your local TaxAssist Accountant can work with you to see if any tax savings can be made, calculate your outstanding tax liabilities and arrange payment to allow you to concentrate fully on running your business.
For a fixed competitive price, our tax experts can address any anomalies within your tax return to minimise the risk of an HMRC investigation into your personal financial affairs.
Call us today to make an appointment on 020 7590 3162 or drop us a line using our online enquiry form.
Date published 15 Feb 2017 | Last updated 15 Feb 2017
Choose the right accounting firm for you
Running your own business can be challenging so why not let TaxAssist Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch?
Local business focus
We specialise in supporting independent businesses and work with 100,000 clients. Each TaxAssist Accountant runs their own business, and are passionate about supporting you.
Come and meet us
We enjoy talking to business owners and self-employed professionals who are looking to get the most out of their accountant. You can visit us at any of our 409 locations, meet with us online through video call software, or talk to us by telephone.
Switching is simple
Changing accountants is easier than you might think. There are no tax implications and you can switch at any time in the year and our team will guide you through the process for a smooth transition.