HMRC can impose penalties upon businesses and individuals for many reasons – from basic errors in self-assessment tax returns to blatant failures to declare income or pay what is owed.
In today’s tax environment, penalties are ever-present and are growing increasingly difficult to avoid.
If you find yourself facing a penalty for submitting a late tax return which you intend to challenge, the onus is on you to show that you had a ‘reasonable excuse’ at the point the failure occurred.
At Clemence Hoar Cummings our expert tax team have put together this helpful guide to tax penalties – to help you know where you stand if you find yourself, or your business, on the wrong side of HM Revenue & Customs (HMRC)
If you have received a penalty notice, contact out friendly team today for support.
Our tax team can also ensure that your tax affairs are in order, to minimise the likelihood of any future errors in your returns and HMRC correspondence.
An Introduction to Tax for Residential Landlords