Late Filing Penalties

[grateful]

I was late filing 2006/07 return and have been charged £200. There was no tax owing so do I still have to pay penality charge?

[taxattack]

No, the fixed penalties cannot exceed the amount of tax for the year.

chris @ taxattack.co.uk

[robbob]

Unless the return was a PAYE return in which case the £100 penalty may still stand.

If you are talking about self assessment then the penalty will be cancelled as chris mentioned.