Update to HMRC Penalty Regime

With Making Tax Digital for Income Tax coming in from this April, we’ve taken the opportunity to review HMRCs penalty regimes and update our guidance:

Penalties From HMRC

For the most part penalties can be mitigated by:

• Keeping accurate records
• Making sure your returns are submitted on time
• Making sure tax is paid on time

But, of course, in the real world it doesn’t always work out that way.