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Post Info TOPIC: Self Assessment - Late submissions
Haymac


Veteran Member

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Posts: 90
Date:
Self Assessment - Late submissions
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Hi All,

I have a client who had not submitted SA for 4 years, he has clocked up in excess of £10K in penalties / interest etc., 

I have now been able to submit SA for all his outstanding years and now waiting for the previously determined amounts to be adjusted.  In the meantime, I know his penalties will remain, my query is....  now that the outstanding SA`s have been submitted, will HMRC continue to apply penalties until all debt is cleared or has anyone been able to negotiate repayment terms whilst no further penalties are applied.

My client has not had any reason as to why he has been so behind with his paperwork, when I asked him, he simply said he was too busy running his business !!!!

Any pointers would be greatly appreciated.

Julie

 



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Julie Johnson

Domino VAT Accounting Ltd
Leger


Master Book-keeper

Status: Offline
Posts: 3904
Date:
Permalink Closed

Penalties only apply for the first 12 months, although interest will continue to be applied until the account is clear, currently 3% a year.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
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