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26-May-2011Self Assessment Tax Return - Penalties
From April 2011, if a Self Assessment Tax Return is filed late or tax paid late, then the following penalties will apply:
Penalties for filing late
One day late and you will be charged an initial penalty of £100 (even if you have no tax to pay or you have already paid all the tax you owe).
Three months late and you will be charged an automatic daily penalty of £10 per day, up to a maximum of £900.