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Reasonable excuse for late paid tax

Copyright © 2026 LexisNexis
Produced by a Tolley Owner-Managed Businesses expert
Owner-Managed Businesses
Guidance

Reasonable excuse for late paid tax

Copyright © 2026 LexisNexis
Produced by a Tolley Owner-Managed Businesses expert
Owner-Managed Businesses
Guidance
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  • 20 Nov 2025 15:20

Home/ Tolley Tax Guidance/ Owner-Managed Businesses / Enquiries, penalties and appeals

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Trusts and Inheritance Tax

Gifts out of surplus income

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Research and development expenditure credit (RDEC)

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First year allowances

First year allowancesFirst year allowances (FYAs) are available on the following items:•first-year relief on qualifying new main rate plant and machinery (at 100%, which is described by HMRC as ‘full expensing’) and special rate assets (at 50%) from 1 April 2023 (companies only). These FYAs were

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