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Where Taxpayers and Advisers Meet
Editorial - Reality Hits Home for Tax Return Penalties
25/02/2012, by Mark McLaughlin CTA (Fellow) ATT TEP, Tax Articles - General
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HMRC have issued a News Release pointing out that 850,000 penalty notices are being sent out to taxpayers whose 2011 tax returns appear to be late. The News Release points out that 550,000 more penalty notices were issued the same time last year.

The latter statistic sounds very positive, doesn't it? However, unlike previous years, the initial £100 penalty will apply to late 2011 tax returns, even if there is no tax to pay.

This is the unfortunate reality, which is about to hit home for many taxpayers.

My prediction is that there will be a tidal wave of appeals against late filing penalties, on the grounds of reasonable excuse. One can only hope that HMRC, and the Tax Tribunal, will be able to cope. Time will tell.

Best wishes,

Mark McLaughlin

Managing Editor

About The Author

Mark McLaughlin is a Fellow of the Chartered Institute of Taxation, a Fellow of the Association of Taxation Technicians, and a member of the Society of Trust and Estate Practitioners. From January 1998 until December 2018, Mark was a consultant in his own tax practice, Mark McLaughlin Associates, which provided tax consultancy and support services to professional firms throughout the UK.

He is a member of the Chartered Institute of Taxation’s Capital Gains Tax & Investment Income and Succession Taxes Sub-Committees.

Mark is editor and a co-author of HMRC Investigations Handbook (Bloomsbury Professional).

Mark is Chief Contributor to McLaughlin’s Tax Case Review, a monthly journal published by Tax Insider.

Mark is the Editor of the Core Tax Annuals (Bloomsbury Professional), and is a co-author of the ‘Inheritance Tax’ Annuals (Bloomsbury Professional).

Mark is Editor and a co-author of ‘Tax Planning’ (Bloomsbury Professional).

He is a co-author of ‘Ray & McLaughlin’s Practical IHT Planning’ (Bloomsbury Professional)

Mark is a Consultant Editor with Bloomsbury Professional, and co-author of ‘Incorporating and Disincorporating a Business’.

Mark has also written numerous articles for professional publications, including ‘Taxation’, ‘Tax Adviser’, ‘Tolley’s Practical Tax Newsletter’ and ‘Tax Journal’.

Mark is a Director of Tax Insider, and Editor of Tax Insider, Property Tax Insider and Business Tax Insider, which are monthly publications aimed at providing tax tips and tax saving ideas for taxpayers and professional advisers. He is also Editor of Tax Insider Professional, a monthly publication for professional practitioners.

Mark is also a tax lecturer, and has featured in online tax lectures for Tolley Seminars Online.

Mark co-founded TaxationWeb (www.taxationweb.co.uk) in 2002.

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