Tag Archives: Reasonable excuse

Be prepared!

Everyone suffers illness (or injury) from time to time. Covid-19 has been a stark reminder of how fragile life can be. For tax purposes, illness can result in tax compliance failures. However, penalties for late tax returns and payments do not apply if there is a reasonable excuse for the compliance failure, provided the failure… Read More »

Penalties: Let’s be reasonable!

Tax return filing season is well and truly here. Unfortunately, many individuals within self-assessment will submit their return after the filing deadline (i.e., normally 31 January after the end of the tax year) and face a penalty from HM Revenue and Customs (HMRC). Excuses, excuses… However, there is an exception from late filing penalties if… Read More »