Late tax return penalty calculator

How to pay a tax fine

HMRC can fine you for missing multiple deadlines. You can be charged for registering for Self Assessment late, for filing your tax return late and for paying your tax bill late. And it doesn’t end there. You can be charged interest on top of this which increases the longer you leave it 😱

We’ll cover how much you pay for each in a moment (or you can just use the calculator above for instant results!) but let us first tell you how you pay:

• Faster payments (online or by telephone banking)
• CHAPS (but be aware this will cost you money on top of the bill)
• Credit/debit card online
• Direct from your bank

These are the fastest ways to pay with payment most likely landing on the same day or the next day. If you’re looking for a slower way to pay (and we don’t judge you here…):

• BACS
• Direct Debit
• Cheque  

These will all take about three working days, except for Direct Debit if you’ve not set one up with HMRC before. If you’re setting up for the first time, allow five working days for this payment to go through. 

How much do I pay for a late tax return penalty?

Take a look at the below tables to see what you’ll be fined before interest for missing each deadline👇

HMRC late filing penalties

Late payment

Can I appeal my penalty?

Yes! But you will need a reasonable excuse. 

Read more here about what HMRC will class as a reasonable excuse to file/pay late.

Do you also have an HMRC interest calculator?

You bet it – and you’re looking at it 👀

Our late tax return payment penalty calculator includes the interest calculation that you owe. Check out the above table for the exact interest rates that you’ll pay based on your billing period. 

How do you know what taxes you owe?

Not done a tax bill in a little while? Not done one ever before? Don’t panic. Basically, you’ll need to file a tax return if you’ve earned over £1,000 in untaxed income (i.e. income that you don’t get a payslip for). That tax you owe depends on the type of income you’re earning. Here are some examples:

• Rental income – Income Tax
• Self-employed income – Income Tax and National Insurance
• Profit from selling an asset – Capital Gains Tax

If you’re not sure about this, don’t hesitate to book a one-off tax consultation with one of our accredited accountants. They can help you get to grips with the basics if you’re struggling with historic tax reporting or unpaid taxes!

I don’t think I can afford to pay

If you’re struggling with paying your bill in a lump sum, HMRC may let you set up a payment plan with them. But the key to being able to do this is giving them as much notice as possible. Get in touch with HMRC for more information on how to do this.