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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13915
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I have submitted my online 2012-13 tax return a week after

Customer Question

I have submitted my online 2012-13 tax return a week after the 31st January deadline. I understand that I will get the standard £100 fine, but will there be any penalty in respect of the new child benefit rules? I disclosed the amount my wife received and because of my income, the full amount was added back in the tax due calculation. I have also just paid the tax, similarly a week late.
Submitted: 3 years ago.
Category: Tax
Expert:  Sam replied 3 years ago.
Hi

Thanks for your question. I am Sam and I am one of the UK tax experts here on Just Answer.

But the penalties against the tax owed due to the late payment do not start to arise until after the payment is 30 days late - so no extra charge should arise

Thanks

Sam
Customer: replied 3 years ago.

And that rule specifically applies to the child benefit tax? i.e. there are no special penalty rules?

Expert:  Sam replied 3 years ago.
Hi

No that rules applies to ALL late tax paid - of which the additional tax due, as a result of the higher charge for child benefit comes under that same position - the only additional position granted as a result of the child benefit situation was for those that registered late.

There are no further concessions. And I will also add that if you are a PAYE taxpayer, then the tax owed could have been collected through your 2014/2015 tax code number (so paid back over 12 months from 06/04/2014 to 05/04/2015)

Thanks

Sam
Customer: replied 3 years ago.

Thanks Sam. I was under the impression from somewhere that you had to submit an online return by 31/12 in order to take advantage of collection via tax code?

Expert:  Sam replied 3 years ago.
Hi


Thanks for your response

Not at all - as the new years tax codes can be amended anytime - even after the new tax year starting (although it is rare this would be agreed after the new year has begun) - then in reality anytime up to 05/04/2014 the request can be actioned in time.

Thanks

Sam