Tag Archives: special circumstances

Penalties: A special reduction!

It is worryingly easy to inadvertently incur penalties for non-compliance with tax obligations. The eye-watering powers of HM Revenue and Customs (HMRC) are underpinned by penalty regimes for non-compliance with various statutory requirements. However, some penalties are subject to exceptions and ‘let-outs’ in certain circumstances where a tax compliance failure has occurred. This potentially applies… Read More »