What has changed
HMRC has raised its interest rate and toughened the penalties for late returns and late tax.
Who it affects
Anyone who files or pays tax late, across Self Assessment, VAT and corporation tax.
What you should do
File and pay on time, and if you cannot pay, arrange a payment plan early rather than missing the deadline. Accurate records and timely filing are your best protection.
Our view
With interest and penalties both higher, lateness costs more than ever. The simplest saving is to be on time, which is exactly the routine we run for clients.
Common questions
Who does this affect?
Anyone who files or pays tax late, across Self Assessment, VAT and corporation tax.
What should I do about it?
File and pay on time, and if you cannot pay, arrange a payment plan early rather than missing the deadline. Accurate records and timely filing are your best protection.
Can TaxTune help me with this?
Yes. Tell us your situation through the quote builder or book a free call, and we will explain exactly what it means for you and handle it if you would like.
Related services and guides
Deadlines & penalties Bookkeeping service Self Assessment service