| Corporation Tax return |
12 months after end of accounting period
|
Depends on how late:
- 1 day: £100
- 3 months: another £100
- 6 months: 10% of unpaid tax
- 12 months: another 10% of unpaid tax
If late more than 3 times in a row the £100
penalties increase to £500.
|
| Corporation Tax return |
9 months and 1 day after end of accounting
period (unless taxable profits over £1.5m then
have to pay instalments)
|
No penalty for late payment, but interest
charged at applicable rate (3% since
September 2009).
|
| VAT (if registered) |
1 month and 7 days after quarter end
|
Surcharges can apply if you don’t file (or pay in full) by the deadline more than once in a 12 month period.
Level of surcharge depends on turnover and
number of failures, ranging from 2% to 15% of
the VAT outstanding.
|
| PAYE (if an employer) RTI return |
On or before payment made to an employee
|
In year submissions:
- Can be up to 3 days late without penalty
-
Special rules apply in numerous
situations
Final submission:
- £100 per 50 employees for each month.
|
| PAYE payment |
19th/22nd of each month (if making manual/electronic payment) unless arranged for a quarterly or annual scheme
Class 1A NICs: 19th/22nd of July (if making manual/electronic payment) following the end of the tax year
|
Late monthly and quarterly payments:
- 1% to 4% of late amount depending on how many more times a payment is made late
- No penalty if only one payment is late in any tax year, unless more than six months late
- 5% if more than six months late
- A further 5% if still not paid after 12 months
Annual payments (e.g. Class 1A NICs and PAYE Settlement Agreements):
- Up to three penalties of 5% of the amount that is late, depending on the length of time that the amount is not paid in full
|
|
Employment Related Securities annual
returns: Eg. Form 42, EMI40, etc
|
6 July following the end of the tax year
|
Depends on how late:
- 1 day: £100
- 3 months: £300
- 6 months: £300
- 9 months: £10 a day
Continued failure may also lead to daily
penalties.
|
|
Employment Intermediaries quarterly returns
|
5 August
5 November
5 February
5 May
|
Depends on number of late filings in 12 month period:
- First: £250
- Second: £500
- Third and subsequent: £1,000
Continued failure may also lead to daily
penalties.
|
|
CIS returns
|
19th of each month
|
Depends on how late:
- 1 day: £100
- 2 months: £200
- 6 months: Higher of £300 and 5% of CIS deductions
- 12 months: Higher of £300 and 5% of CIS deductions
- Beyond this additional penalties can be up to the higher of 100% of the CIS deductions and £3,000.
|
|
ATED returns and payment
|
Existing properties: annual return and payment due 30 April each year
New properties: return and payment due within 30 days of acquisition
|
Late return:
- 1 day: £100
- 3 months: £10 per day up to 90 days
- 6 months: higher of £300 and 5% of tax due
- 12 months: higher of £300 and 5% of tax due.
- Further penalties can apply if over 12 months late and taxpayer deliberately withholds
- information.
Late payment:
- 30 days: 5% of tax due
- 6 months: 5% of tax outstanding at that date
- 12 months: 5% of tax outstanding at that date
|
|
Companies House: Annual filing of accounts
|
9 months after end of financial year (6 months if public company)
|
Depends on how late:
- Up to 1 month: £150
- 1 - 3 months: £375
- 3 -6 months: £750
- Over 6 months: £1,500
Penalties are doubled if late more han 2 years
in a row.
|