Brits urged to challenge HMRC fine with 73% success rate
manchestereveningnews.co.ukBrits are being urged to challenge an HM Revenue and Customs (HMRC) fine after it was revealed it has a 73% turnover. An automatic fine is a monetary penalty issued by HMRC for those who miss a filling or payment date.
These are also sometimes issued for those who are not even required to pay tax. According to a Times report, 3,807 automatic fines were examined in the second quarter of the year after they were challenged.
Out of all those challenged, 2,755 were cancelled while 24 fines were reduced - resulting in a 73% success rate overall. If you have been subjected to a fine, you will receive a penalty notice from the taxman informing you that you are late in either your tax return of paying your self-assessment tax bill.
A fixed fine for a late penalty currently stands at £100 for tax returns up to three months late. However, this can increase if the three-month period is passed or if the tax bills is paid late.
Read more on manchestereveningnews.co.uk