HMRC issued a further reminder last week that penalties for late filing of self assessment tax returns are changing.
PKF has warned that HMRC’s extended programme of business records checks will ‘waste everyone’s time’, and suggested that HMRC staff employed on the programme could be put to ‘much better use’.
HMRC have flagged new penalties taking effect this autumn for late tax returns and late payments by individuals and businesses:
‘The new penalties for late self assessment returns are:
The Finance Act 2011, Section 43 (Appointed Day) Order, SI 2011/2280, appoints 15 September 2011 as the day on which FA 2011 s 43 comes into force.
Musician: whether trade continuing
CIS returns: whether photocopy acceptable
Chris Lake investigates whether the Supreme Court decision in Autoclenz indicates a shift in the courts’ approach to determining employment status, and he provides a checklist of key factors and relevant case law.
The government has confirmed that an avoidance scheme designed to accelerate first year allowances is to be blocked with effect from 12 August 2011.
The Capital Allowances (Environmentally Beneficial Plant and Machinery) (Amendment) Order, SI 2011/2220, amends SI 2003/2076 to reflect new water technology lists issued by DEFRA.