Hi All, asking for a friend who is up the wall with worry. She is part time employed and is also a director of her husbands small limited company. From what I can gather he is registered and has no issues with self assessment. She gets a wage from her employment (15k) and takes a dividend from the company. She has never registered for self assessment and has never been asked to. Her accountant always told her if you don't owe any tax and they don't ask then you don't have to.
Now, she has registered this year because she will be receiving 8k. HMRC requested tax returns for 15/16 and 16/17. 15/16 had £0 due and 16/17 had £225 due. However, they are now demanding for nearly 4k in penalties and interest. She admits she should have registered last year with an 8k dividend and is resigned to paying the £1600 fine, £225 tax and interest. Is there anything she can do about 15/16. 4k in penalties seems outrageous for £225 in tax especially when 2k relates to a year where no tax was due.
Thanks for any help.
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