Tax Penalties & their mitigation
November 7th, 2011
Following a number of defeats at the Tribunal where the law regarding submission of Tax Returns clashes with the Taxman’s interpretation of that law in terms of what is ‘reasonable excuse’ & the tax payer won a reprieve against a late return penalty, the Taxman is bowing to pressure to be more reasonable in accepting genuine good reasons for a delay. You have 30 days to appeal a penalty & all claims must be submitted in writing.
The content of this article is for general information only. It should not be relied on and action which could affect your business or personal circumstances should not be taken without appropriate professional advice.
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