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Tax Advice - Questions and Answers No 6 Jan 2012

Posted 26/01/2012

Question. Traditionally in previous years I have submitted my self assessment return to H M Revenue & Customs (HMRC) after the 31 January filing deadline making it a late return. The penalty of £100 in force wasn’t sufficient reason for me to ensure I met the deadline. I have been told that for the 2011 self-assessment return due to be filed with HMRC on or before 31 January I could face much higher penalties if I fail to submit it on time. Is this correct and what are the maximum penalties I could now face?

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