If you have not yet submitted your 2019 UK tax return you should be aware that per day late filing penalties will commence on the 1st of May, 2020.
The UK has a late filing penalty regime where a personal tax return is not submitted by the due date.
For most who are required to submit a UK tax return the deadline is:
- 31 October following the end of the tax year if a tax return is submitted on paper
- 31 January following the end of the tax year if a tax return is submitted electronically
Clearly we are now past the filing deadline for 2019 personal tax returns, which means a penalty of £100 is presently payable.
From the 1st of May 2020 a £10 per day late filing penalty will start to accrue, up to a maximum of £900.
Additional penalties for the late submission of the 2019 personal tax return will arise if the return is lodged more than 6 months late (add 5% of the tax due or £300, whichever is the greater sum), and more than 12 months late (ditto).
A calculator for estimating late filing penalties is here.
Given we have now gone past the end of the 2019/20 UK tax year it might be a good time to prepare and submit your 2019 and 2020 UK tax returns, if your 2019 UK tax return is yet to be lodged.
If you think you might need help with an overdue UK tax return please complete the enquiry form on this page. We can then have a no obligation conversation about your tax returns, and how bdh Tax might help.
Our fees are fixed in amount, and are agreed in advance before you have any commitment to us.