Practice assessment 2 task 7 a

So you have different types and timings for the penalties that all add together.

The filing penalties are:

You have the £100 fixed immediate.
You then are charged £10 a day after 3 months until you hit 90 days (max £900). This will start on the 1st May XX.
There is then a further 300/5% (higher) if it's 6 months late (1st August XX)
and another 300/5% (higher) at 12 months late (1st Feb XY)

The interest based penalty in (a) is referring to the 300/5% sections


Late payment is based on amount outstanding and is applied:

30 days late - 5% outstanding
6 months - a further 5%
12 months - a futher 5%