Btc - interest and penalties

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111beckstar111
111beckstar111 Registered Posts: 158 Dedicated contributor 🦉
in AAT Level 4 (Level 8 in Scotland)
ANYONE HAVE ANY IDEAS ON INTEREST AND PENALTIES - WOULD BE GOOD TIME TO JOG MY MEMORY!!! :thumbup:

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  • Primble
    Primble Registered Posts: 734 Epic contributor 🐘
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    £100 late filing??????
  • Greycow
    Greycow Registered Posts: 83 Regular contributor ⭐
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    The main ones i remember is £100 for a return filed up to 6 months late, £200 for between 6 months and 12 months late and if over 12 months £200 plus 100% of tax liability, this is for income tqax, CGT and Class 4NICs

    I think for companies it is £100 for up to 3 months and £200 for delays that exceed 3 months, these raie to £500 and £1000 if the returns for the preceeding two account periods were late or never submitted.

    Hope this helps

    Good luck for tomorrow, after BTC i need to get back home and revise for PTC on Friday.
  • 111beckstar111
    111beckstar111 Registered Posts: 158 Dedicated contributor 🦉
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    Thanks for your help primble and greycow :)

    Same here I have PTC on Friday aswell :(
  • Primble
    Primble Registered Posts: 734 Epic contributor 🐘
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    i got dfs after btc.
  • Moseley_21
    Moseley_21 Registered Posts: 59 Regular contributor ⭐
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    I have PCR on thursday after BTC... then i have an appointment with the pub!!! :-)

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