Morning
I have an case here with a new client who disposed of a fixed asset and made no declaration to HMRC. He has never completed tax returns in the past, and did not seek any professional advise when the disposal happened. HMRC therefore issued a penalty of deliberate as opposed to carelessness which is what we were arguing for. The tax liability has been agreed.
Now HMRC has issued their notice of assessment with a fixed due date of one month from the date of the assessment demanding for the tax otherwise a 5% surcharge will be imposed. Suffice to say interest has already been running here.
My question is, can HMRC do this. The chances of any tax being paid by my client within a few weeks are impossible. Any why the additional 5% surcharge?
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