Under the new SA late filing regime a late filing penalty applies regardless of whether you have a liability or made a payment.

The Institute of Chartered Accountants (ICAEW) points out the changes: it says: 

“If your client misses the self assessment filing deadline this year they will be immediately liable for a £100 late filing penalty. The penalty will apply even if there is no liability or if any tax due is paid in full by 31 January 2012. 

The fixed £100 penalty for failing to file a 2010/11 tax return on or before the filing date will therefore apply to:

  • Paper returns received on or after 1 November 2011.
  • Online returns received on or after 1 February 2012.

Daily penalties of £10 per day will also take effect if the tax return is still outstanding three months after the filing date. So if your client files a paper return after 31 October 2011, they will be liable to a daily penalty on 1 February 2012, three months earlier than late online filers.”

See Self-assessment: new late filing penalties now apply

For further detailed information see:

Tax penalties: failure to make a return (late filing)

Tax penalties: self-assessment late filing (up to 2009/10)

For more information on other tax penalties visit our: Penalties & Compliance section.

Subscribers: we recommend:

Adviser's Tax Penalty Planner a summary of the transitional tax penalty regime: what penalty will apply, when, where and why.