Self Assement Penalty Payment

bond1983

Morning, hoping someone can help?

I was stupid and forgot to do my self assessment. I was self employed in previous years and thought i didnt need to do it but there was about 4-5 months in the tax year that i needed to submit, even though it was a zero return. I have now £100 fine to pay, i have submitted my return in Feb.

When is the £100 due and what interest will be charged. I'm going to pay it but would help if i didn't have to pay all this month.

I found online that 5% will be charged but how often is that??

Thanks

Gemma

00ec25

you could have googled this

http://www.hmrc.gov.uk/sa/deadlines-penalties.htm

madgagoo

Due 30 days after issue of the penalty notice.

spacey2012

A bit of googling and you will see. most ignore them

agrinnall

spacey2012 wrote: »

A bit of googling and you will see. most ignore them

Is that your advice, ignore a demand for payment from HMRC? Doesn't sound like a very good idea to me.

simplydevine05

Having received a penalty years ago, albeit for completely different circumstances and I could appeal, I understood that if you couldn't pay all at once that they will accept a reasonable repayment plan and you will pay interest on it. I could be wrong though. You're best off ringing them. I have always found them very helpful.

londonTiger

cant speak for this penalty, but I would not ignore any payment demands from the tax man or council. Their demands are pretty water tight in law and they can escalate it and give you a lot of trouble.