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Interest and penalties

Penalties if you miss the tax return deadline

If you miss the deadline, the longer you delay, the more you'll have to pay. So it's important to send your tax return online to HMRC as soon as you can. The table below shows the penalties you'll have to pay if your tax return is late. If a Partnership tax return is late, each partner will have to pay the penalties shown below.

Penalties for missing the tax return deadline

Length of delay

Penalty you will have to pay

1 day late

A penalty of £100. This applies even if you have no tax to pay or have paid the tax you owe.

3 months late

£10 for each following day - up to a 90 day maximum of £900. This is as well as the fixed penalty above.

6 months late

£300 or 5% of the tax due, whichever is the higher. This is as well as the penalties above.

12 months late £300 or 5% of the tax due, whichever is the higher.
In serious cases you may be asked to pay up to 100% of the tax due instead. In some cases the penalties can be even higher than this.
These are as well as the penalties above.

Interest and penalties if you don't pay your tax on time

Interest charges if you pay late

You will have to pay interest on anything you owe and haven't paid, including any unpaid penalties, until HMRC receives your payment.

Penalties for paying late

If you don't pay the tax you owe for the previous tax year on time, you'll have to pay a penalty after 30 days and the longer you delay, the more you'll have to pay. So it's important to pay the tax as soon as you can.

Penalties for paying late

Length of delay

Penalty you will have to pay

30 days late

5% of the tax you owe at that date

6 months late

5% of the tax you owe at that date. This is as well as the 5% above.

12 months late

5% of the tax unpaid at that date. This as well as the two 5% penalties above

The penalties above do not apply to any payments on account that you pay late.

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