This is a freeview 'At a glance' guide to late filing penalties.

Late returns can be subject to a mix of fixed and tax geared penalties. What penalties apply for late filing? Which penalty will apply and when? 

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I have read your article in relation to late filing penalties, particularly with regard to the CIS penalties.

The section relating to the penalties that could be applied where a contractor has failed to register states:

"CIS: failure to...

I have read your article in relation to late filing penalties, particularly with regard to the CIS penalties.

The section relating to the penalties that could be applied where a contractor has failed to register states:

"CIS: failure to register

When the first CIS return is filed the total penalty for all defaults is a maximum of £3,000 and the tax geared penalties cannot apply.
"

I am not certain that this is correct. Having read the legislation (FA09 Sch55 Paragraph 13), it is only the fixed initial penalties (ie the £100 and £200 penalties) that would be capped but the tax geared penalties (ie 5% of the amount of deductions that should have been shown on earlier returns) will apply and the 5% tax geared penalty takes precedent over the £300 fixed penalty where returns are six or 12 months late in this case.

Given my thoughts, I wondered whether I was missing something.

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