New Self Assessment penalties for late filing and late payment

HMRC have issued an update with regard to the new penalties for the late submission of SA Returns and also the reversion to the usual tolerance regarding underpayments in PAYE cases after the more substantial tolerance level which has applied for the three years to 5th April 2010. Full details of these updates can be found here:

http://www.hm-treasury.gov.uk/tax_updates.htm

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