Hello,
With so much news coverage on the former Chancellor of the Exchequer Nadhim Zahawi's tax settlement, we have created a case study, based loosely on the known facts of his tax penalty, to illustrate how tax-geared penalties are calculated and what might count as a 'reasonable excuse' for making an error on a tax return. We have also included some suggestions as to how, with the benefit of hindsight, penalties could be avoided.