When receive notification of a penalty?

Jen2bjen

Hi,

I have been very stupid and got myself in a complete pickle with tax returns relating to property. I basically want to know when you receive notice of a fine when filing a very late tax return but will include more detail if relevant.

I've been renting out a property since 2015. In that year we made a loss and rang HMRC to report the loss. In 2016/2017 we made a small profit but not big enough to do a Self Assess Tax Return so again reported over phone. This year finally made a decent profit so needed to fill out a form.

Due to utter stupidity when signing up to fill in a form online i accidentally signed up to do them all for 3 years instead of the most recent (and so did my husband so between us we now had 6 tax returns to fill out!!!) Rang HMRC and asked for 2015/2016 and 2017/2018 to be removed from the system, they said they could for 2016/17 but not for 15/16 and I would have to fill that out :mad: It was a case of computer says no.

So we have completed them and have paid the £58 owed on my husbands and apparently i am owed £10. However I losing sleep over weather we will get a massive fine? £1600 each??!! When will i find out if we will get a penalty? Would i know by now on my online account or will it come in the post?

Sorry that was long..... Thanks

Dazed_and_confused

I basically want to know when you receive notice of a fine when filing a very late tax return but will include more detail if relevant.

I think you may be confused. You can be only fined for late filing of a return if you actually file it late. When HMRC issue a tax return you always get a minimum of 3 months to file it before any penalties are applied. This is the case irrespective of which tax year the return is for. There is a very large notice on the front of the tax return which explains this.

So, did you file the returns within 3 months of the date they were issued?

If not can you explain why not.

Also, why did you ask for this? It doesn't make sense with the rest of your post.
Rang HMRC and asked for 2015/2016 and 2017/2018 to be removed from the system,
NB. I have assumed that your reference to making a decent profit "this year" actually means you made a decent profit last year (2017:18 tax year).

Jen2bjen

Yes sorry i made a decent profit in 2017/2018 so I meant I had 2016/2017 removed. I am yet to complete for 2017/2018.

I have not seen the 'large notice' on the front of the tax return. I did try to read everything carefully as I completed it online but I missed that.... I think I am just panicking and not thinking straight!

So yes the deadline for 2015/2016 for me was September 2018. So i won't be fined then?! I am beyond clueless and this is all new to me so I appreciate your reply and patience!!

whitewitch21

If you were issued the 2015-2016 tax return after the standard issue date of 6 April, you will have 3 months to complete it before being charged a penalty. If your filing deadline is sometime in September 2018 as you state above, you won't have been charged a penalty yet.