Penalties for inaccurate Tax Returns
Remember there are now penalties for tax returns which you need to be aware of. The new rules for returns filed on or after 1 April 2009 provide for a penalty of up to 30% for failure to take reasonable care, higher penalties for deliberate understatement and penalties of up to 100% for deliberate concealment. The government took steps to formalise the basis on which penalties apply. Taxpayers who make genuine mistakes will not be penalised.
Contact mark.busby@dbsellek.co.uk or 01344 620495
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