Interesting Fact - Tax

According to HMRC (HM Revenue & Customs) 850,000 Brits have been fined £100 each for filing their self assessment tax return late.


( 9.6m people did file their tax return on time this year, but penalties can still apply if a mistake was made, and people can be fined even if there was no tax to pay or if any tax due has been paid.

Wait!  It doesn't stop there: Anyone who has still not filed a return and paid all the tax due faces further fines of £10 a day after the end of April. After another three months there is a further penalty of 5pc of the tax due, with a minimum of £300 – a penalty that is repeated after a further nine months.


That's a nice little earner.)

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