Saturday, 13 June 2015

HMRC waive the £100 penalty for failure to file 2013/14 tax returns


In a carefully worded statement published on 5 June, HMRC announced that the £100 penalty will not be pursued in cases where individuals have already appealed against the penalty (with valid reasons for their failure to submit) and provided those individuals have now submitted their 2013/14 UK returns and paid any tax that is due.

Much of the media coverage prior to this announcement gave the wrong message and it is clear now that there is no blanket exemption to the £100 penalty.  HMRC has explained "we do not wish to penalise ordinary people who are trying to do the right thing" but it was stressed that 2013/14 penalties would only be waived in the specific cases outlined above.

HMRC have said that the intention is to focus resources against major tax evasion and avoidance.