HMRC to allow multiple penalty appeals
HMRC has issued guidance regarding bulk filing of late filing penalty appeals for multiple clients. What do you need to know?
Due to the impact of the pandemic, HMRC did not issue a late filing penalty for anyone unable to file their 2020/21 tax return by 31 January 2022, provided they did so by 28 February 2022. For those that missed the February deadline too, HMRC is accepting coronavirus-related problems as a reasonable excuse. This means that an appeal can be made to cancel the £100 late filing penalty if the return could not be filed on time due to the virus.
HMRC is also allowing authorised agents to submit bulk appeals for such cases, if the appeal is made between 9 March and 6 May 2022. Note that the facility is only available for late filing penalties for 2020/21 tax returns where the pandemic is the excuse, it cannot be used for other penalties or other excuses. In addition, appeals for clients that are administered by HMRC’s High Net Worth Unit cannot be made under this facility.
The form and further instructions can be found here.
Related Topics
-
VAT-saving opportunity with changes to the CGS?
The government has announced that it will increase the capital goods scheme (CGS) threshold for capital expenditure on land and buildings from its current level of £250,000. What will the new threshold be, and how can you take advantage?
-
Delay salary to save tax
As a company owner manager, you decide when to take income from your business. If that’s your only source of income, tax planning is relatively simple but it’s trickier if you have other sources. What’s the best strategy to improve tax efficiency?
-
Loan written off: are you in HMRC’s crosshairs?
HMRC is writing to directors that took a loan from their company that was later written off or released. What should you do if you receive a letter?