UK Government £85 million richer from late tax returns
Around 850,000 £100 penalties for late tax returns will be issued over the next fortnight, 550,000 fewer than the same time last year. Additional daily charges of £10 will accrue after three months. A maximum penalty of £1,600 could eventually be due.
Letters containing the 100-pounds (about 158 U.S. dollars) late-filing penalties are being sent to people who failed to send their 2010/11 returns on time.
Although the deadline for receiving online returns was Jan. 31, this year HMRC is not issuing penalties to people who sent their 2010/11 return online on Feb. 1 or 2, following strike action at HMRC's call centers on Jan. 31.
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