A7.248B Penalties

A penalty is charged where an accelerated payment is paid late, but will normally be subject to a late payment penalty. Escalating penalties are chargeable at a fixed rate based on the amount of tax unpaid, or still unpaid, at any of three statutory dates1:

  1.  

    •     at the end of the payment period (see above), 5% of the unpaid tax

  2.  

    •     five months after the end of the payment period, 5% of any remaining unpaid tax, and

  3.  

    •     11 months after the end of the payment period, 5% of any remaining unpaid tax

In Pitcher2 the First-tier Tribunal found

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