HMRC Fines and Penalties

Keeping on the Right Side of HMRC

With HMRC fines, surcharges and other penalties lurking behind every possible mistake when it comes to tax and financial regulations, you've got to get it right the first time, every time. Each tax or duty you're liable for will have its own specific rules and penalties for late or incorrect payment and filing. Of course, the mistake might not actually be yours. You can even face a penalty if you don't tell HMRC that their assessment of what you owe is too low.

Call us on 01233 653006 and see how we can help you today.

If you've had an unexpected or incorrect HMRC penalty, or if you simply don't understand the demand for payment you've received, that's where RIFT Accounting can leap to the rescue as your agent with HMRC. If the fault is yours, we may still be able to get the penalty reduced or arrange a payment plan.

The kind of HMRC penalty you can expect to get slapped with depends on the tax it relates to. Here's a quick breakdown:

Filing of Company Accounts

As a director of a limited company, you need to ensure each year that company accounts are completed and filed with Companies House and a Corporation tax return is filed with HMRC. As a client of RIFT Accounting, we will prepare these documents for you and contact you to ensure we have all the relevant information before the accounts are submitted.

If you fail to deliver a set of accounts on time there will be a penalty charge, which increases depending on the lateness. The penalty for a private company starts at £150 if you are up to a month late and goes up to £1500 if you are more than 6 months. If you are late with filed accounts a second year in succession, the fine is doubled.

If you have concerns about providing the information on time, or the information that we require to complete your accounts, please let us know and we will be happy to help to ensure you remain compliant

We're here to help you get out of difficulties - and to avoid them in the future. With us here to act on your behalf things suddenly feel a lot simpler and safer. If you're already facing HMRC penalties, or if there's something you don't understand or didn't expect, we can get involved on your behalf to talk with HMRC to discuss getting them reduced, organise a payment plan or make an appeal.

You can leave things in our hands, safe in the knowledge that we will bring you to safety and help you to make sure that this sort of nasty surprise never happens again.

Talk to us today about how quickly we can turn things around for you.

Call us on 01233 653006 and see how we can help you today.

Contact Us

Newsletter Sign Up

Fieldset legend