tax return due for repayment
lorraine
Registered Posts: 404 Dedicated contributor 🦉
Hi All, I have sent off for a 64-8 to file clients tax retunr, client is cis and expected a refund, what would happen if the tax retrn was filed late? would they get the £100 fine still??????
0
Comments
-
The penalty is £100 or the amount of tax due if it is less than £100. So if your client is due a refund they will have no penalty.0
-
The penalty is £100 or the amount of tax due if it is less than £100. So if your client is due a refund they will have no penalty.
thanks slosh im currently awaiting 64-8 to be posted to the client, may have to buy software especially to enable me to file with out it. I am wondering should I forfeit the cost or would you forward on to the client??????????????????
thank you in advance....0 -
Yes, I agree, but I have read somewhere that this is to change and a late return will mean a penalty regardless of what tax is owed.0
-
It still stands for 08/09 returns that fixed penalties will be reduced to the amount of tax outstanding at 31 January 2010. If you are in doubt advise the client to pay what may be owed.
Extract from
SALF208 Manual
Section 93(7)
2.68 The general rule is that the fixed penalties apply to all cases of late delivery, regardless of the tax at stake. However, they cannot exceed the tax liability for the year or the amount outstanding at the filing date. So in cases in where the tax outstanding at the filing date is less than £100 (or £200 as appropriate) the penalties are reduced. (See para 5.37 about partnerships).
Link on HMRC is here http://www.hmrc.gov.uk/manuals/salfmanual/SALF208.htm
This is abolished by the Finance Act 2009 so will not be available in the future (at present possibly 31 January 2011)Regards,
Burg0 -
ok, thank you for your answers.0
-
Hi Lorraine,
Just seen your post re filing without a 64-8 authorisation. You can still file online using the HMRC software for clients for whom you have not got authorisation.
So no need to buy any software. Just you won't be able to see access their account untill authorisation is complete.0 -
ok i will try this! thank you!0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 318 NEW! Qualifications 2022
- 161 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 87 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 273 Tax
- 135 Bookkeeping
- 7.2K General accounting discussion
- 200 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership