Late Filing your Tax Return – what has this cost you?

HMRC have announced that they have recently sent out 850,000 penalties for late tax returns over the next for fortnight. Letters containing the £100 late filing penalties are being sent out to people who failed to send their 2010/11 Self Assessment returns to HMRC on time.

Anyone whose return is more than three months late could be charged an additional £10.00 penalty for each day it remains outstanding, up to a maximum of 90 days.