Hi All,
My client has an ongoing investigation into 6 tax years to 2014 that were not submitted.
I have now completed the 6 years in question & HMRC have agreed the tax liability for the two years to 2014. The enquiry regarding the earlier 4 years will commence as soon as I agree or not the penalty calculations regarding the two years to 2014 tax year.
HMRC have sent out a penalty calculation summary ' failure to notify under schedule 41 Finance Act 2008'.
Their penalty range is between 35% minimum to 98% maximum of the agreed tax liability.
Their Penalty calculation for 2013 has been calculated at 35.7% of the agreed tax bill so a penalty notice calculation of £2598.58.
Their Penalty calculation for 2014 has been calculated at 35.7% of the agreed tax bill so a penalty notice calculation of £ 2492.44.
With tax liabilities for the earlier 4 years yet to be agreed & with penalty notices on top; there is going to be a significant bill due to HMRC!
Other than my client providing reasonable excuse for not submitting these returns on time. Do I have any grounds to appeal or argue down these penalty calculations?!
Thoughts appreciated
Simpsonite
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