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Where Taxpayers and Advisers Meet

Penalty

jakeypaul
Posts:8
Joined:Wed Apr 10, 2024 3:33 pm
Penalty

Postby jakeypaul » Wed Jun 19, 2024 7:24 pm

I received a £1500 penalty for year ending 2022 because I didn't think I needed to to send in a self assessment. After calling them they have sent me a form to fill in. For that year I received a state pension of £8690 plus Dividends of £2055.
Reading through the dividends allowance I am £55 over but is it only taxable if it takes me over the £12570 personal allowance?

bd6759
Posts:4325
Joined:Sat Feb 01, 2014 3:26 pm

Re: Penalty

Postby bd6759 » Thu Jun 20, 2024 12:34 am

What is the penalty for. It will say that on the notice.

jakeypaul
Posts:8
Joined:Wed Apr 10, 2024 3:33 pm

Re: Penalty

Postby jakeypaul » Thu Jun 20, 2024 9:41 am

Hi,
Late filing penalties for the year ending 5 April 2022
Overleaf. Penalties for filing your 2021-2022 tax return late
3 months late £900
6 months late £300
12 months late £300
These penalties total £1500

jakeypaul
Posts:8
Joined:Wed Apr 10, 2024 3:33 pm

Re: Penalty

Postby jakeypaul » Thu Jun 20, 2024 9:43 am

Hi,
Late filing penalties for the year ending 5 April 2022
Overleaf. Penalties for filing your 2021-2022 tax return late
3 months late £900
6 months late £300
12 months late £300
These penalties total £1500

D&C
Posts:170
Joined:Mon Nov 25, 2019 11:35 pm

Re: Penalty

Postby D&C » Thu Jun 20, 2024 1:01 pm

To be honest I don't have much sympathy but if you genuinely have no reason to need to file a return then why are you considering filing one?
NB. Having dividend income of £2,055 is not in itself a reason why a Self Assessment return would be necessary.

Why not ask HMRC to withdraw the return/notice to file a return?

I suspect there is more to this than you are telling us but based on what you have said that might be your best option.

Obviously if there is more to it and HMRC issued the return for a perfectly valid reason then that is a non starter.

jakeypaul
Posts:8
Joined:Wed Apr 10, 2024 3:33 pm

Re: Penalty

Postby jakeypaul » Thu Jun 20, 2024 4:38 pm

After a phone call to HMRC today they have indeed decided to withdraw all penalties.
As I retired 8 years ago and only have state pension plus dividends they realised it was a mistake on their behalf.
It seems I shouldn’t have been sent self assessment forms.
As for your reply. Why would I not be truthful in my post?
I was looking for an answer to an honest question but maybe this is not the place for you!
People are looking for help with tax problems not rude replies.


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