CH 9 - Payment Dates, Interst and Penalties (PT)

Question 1

What are payment dates for SA?

Answer 1

2 payments are due;
* 31 January + balancing payment
* 31 July

Each payment on account is 50% of the previous tax year’s tax due (only in respect of income tax, not CGT)

Payment due in respect of a simple assessment is due on 31 January after the tax year.

Question 2

PersonalTax

What are penalties for late payments?

Answer 2

5% for >30 days
add. 5% > 5 mts after first penalty
add. 5% more than 11 months after penalty

Penalty is only payable on balancing payment

Question 3

When the taxpayer’s only grounds for appeal can be reasonable excuse for the failure to file late or pay late?

Answer 3

Where penalties for late notification (where not deliberate),
late filing or late payment have been correctly charged by HMRC, the taxpayer’s only grounds for appeal are that they had a ‘reasonable excuse’ for the failure.