HM Revenue & Customs (HMRC) have announced today that they will exempt small employers with 49 or fewer staff from being issued with automated PAYE real - time information (RTI) late
filing penalties until March 2015.
Not exact matches
And if you haven't paid a dime on that income
until the
filing deadline, there's a chance you'll face a
penalty and interest, too.
Penalties increase each month you don't
file taxes or pay what you owe
until they max out at 25 percent of your unpaid taxes.
«The Institute welcomes this delay
until March 2015 as regards the issuing of automated PAYE RTI late
filing penalties for small employers.
Don't owe taxes then there are not
penalties but you will not receive your refund
until your taxes get
filed.
Remember, you have
until your tax
filing deadline, plus extensions, to reverse a conversion, including a portion, without taxes or
penalty.
Unincorporated small business owners and spouses have
until June 16 to
file before late
filing penalties apply, but
file by April 30 to avoid interest charges on balances due.
No new license shall be issued upon the
filing of a new application by any person against whom any
penalty or fee has been imposed unless and
until such
penalty or fee previously accrued under this Section has been paid.
(b) the Director may, by order, suspend any registration
filed under Part II.2 or any permit, licence or environmental compliance approval issued to the person under this Act
until the administrative
penalty is paid; and
Because so many people were caught off guard by the
penalty, the government agreed to offer a special enrollment period that year for people who didn't know about the
penalty until they
filed their 2014 tax returns.
The reason it's so important to
file your tax return as soon as possible is because the failure - to -
file penalty is 5 percent each month of the taxes you owe
until you
file (up to 25 percent).