UK Payroll Software and Print Management Software

HMRC revise penalty regime

 
The HMRC have advised they are instigating a new regime for penalties, you can find the information here:

http://www.hmrc.gov.uk/about/new-penalties/index.htm
 
They are (they say) introducing a simpler and more consistent penalty system for tax errors. Under the new system if you take reasonable care to get your tax right, HMRC will not penalise you, even if you make a mistake.
 
The new penalties will apply initially to Income Tax (including Self Assessment), VAT, employers paying PAYE, National Insurance contributions, Corporation Tax, Capital Gains Tax and the Construction Industry Scheme. For these taxes they will apply for errors in tax returns or other documents, for periods starting on or after 1 April 2008, that are due to be filed on or after 1 April 2009.