Late tax return penalties

Every year almost 1 million people miss their tax filing deadline. But what are the penalties for a late tax return?

There are in fact two different penalties related to self assessment:

  • a penalty for filing late: even if you owe no money in taxes you will still be fined for filing late
  • a separate penalty for paying your tax bill late.

Penalties for late filing

How late you are Fine (each gets added to the others!)
between 1 day and 3 months £100 flat fine
between 3 months and 6 months £10 each day
between 6 months and 12 months £300 flat or 5% of your tax bill (whichever is greater)
over 12 months £300 flat or 5% of your tax bill (whichever is greater)

So the total fines for filing a year late will come to £1,600!

Penalties for late payment

If you owe a tax bill and miss the payment deadline you will have additional fines and interest in addition to the late filing fines above.

How late you are Payment Fine (each gets added to the others!)
between 1 day and 30 days 3% interest
between 30 days and 6 months 5% interest
between 6 months and 12 months 5% interest
over 12 months 5% interest

So paying your tax bill a year late will lead to interest added of over 18%.

What you can do

  • you should file it as quickly as possible to stop the late payment fines building up
  • if you have a reasonable excuse (a serious illness, etc.), you can appeal the penalty
  • if you can't afford paying it (especially if you know in advance), you can file for an extension.

If your tax return is late, we at TaxScouts prioritize late filings and we can stop you from accruing fines.

Need help with your tax return?

Get your self assessment prepared for you online by certified accountants for £99

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How TaxScouts works

Simple online tax assessment

1. Simple online tax assessment

Our online tax-bot will go over your tax situation and will make sure you won’t overpay your taxes.

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2. Chat to human advisors

You can talk to one of our tax assistants at any time during the process when you have any questions.

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3. We’ll sort your documents online

We’ll tell you exactly what documents you need and sort them for you online. You just upload them or snap a picture with your phone.

Everything gets prepared for you

4. Everything gets prepared for you

Your certified accountant will go over your details & prepare your tax return for you to review. It will be filed on your behalf once you approve it.

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Who our service is for

First time tax filers

We have a simple online service that guides you through the entire process. Regardless of your reasons for doing your tax return we'll help you get it done right.

Construction workers

We'll prepare your self assessment and help to maximise your CIS tax refund. We have the lowest fees in the industry and you don't have to pay up front if you're eligible for a refund.

People living overseas

Our service allows people living abroad to prepare their income tax return online. We are able to process all returns regardless of your current country of residence.

Company directors

UK company directors are required to file their self assessment annually. TaxScouts handles this through a simple online process.

Landlords

Long Lets, Airbnb, Capital Gains. TaxScouts will sort out your self assessment and take away the worry of tracking all the recent tax changes.

Self-employed

TaxScouts ensures the self employed don't overpay on their taxes. We'll help you benefit from all the tax breaks and deductions that can be applied to your return.

And for everyone else who needs to do their self assessment

At TaxScouts we appreciate that tax returns are highly individual. Before you get assigned an accountant we make sure to understand your circumstances and help you build your optimal tax profile.

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What happens next

  • We'll ask you a couple of short questions
  • Then we'll tell you what documents we need
  • Finally one of our qualified accountants will file your tax return
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