Penalties

There can be loads of cases whereby taxpayers may receive tax penalties for non-compliance. HMRC has the right to penalise sole traders and limited companies when accounts and self-assessment are not completed within the specified time frames. The most common type of penalty for sole traders are late filing penalties, these are generally applied when a sole trader has not filed a tax return and they can go up to £1600 PER YEAR if no action is taken by the tax payer. They usually start at £100 and climb higher each month, so it’s not a good idea to neglect your tax affairs for longer.

Late Filing Penalties Cancellation Service – Sole Traders

We are able to assist clients in every step of the process in getting late filing penalties cancelled or reversed.  This is regardless of if you have the fines outstanding or have paid them off years ago.

Our know-how with tax law allows us to boast the BEST SUCCESS RATE in the UK when it comes to penalties and we offer a NO WIN, NO FEE on all of our penalty services. This means that if we can’t help in cancelling/reversing your late filing penalties, then we won’t charge for trying. In most cases, we are able to assist our clients with NO UPFRONT COSTS meaning that they will not be out of pocket throughout the process.

Ways Of Dealing With Late Filing Penalties

There’s numerous ways to deal with late filing penalties, chances are that you will be lost before you start without the correct advice,  The most common way of overturning penalties are by appealing against them, withdrawing your tax return or taking HMRC to a first tier tribunal. Although these are the most common, they may not always be the most effective way to cancel the late filing penalties, so it’s worth engaging a specialist to point you in the right direction.

We are able to help with all the methods mentioned and more. In fact, we are one of the ONLY ACCOUNTANTS IN THE UK that are able to help with this service due to our collaboration with a specialist legal team, so we know what we are doing.

Fees

It’s difficult to quote a job without seeing it first, so we offer a totally FREE QUOTE and honour all our penalty services on a NO WIN, NO FEE basis. This means that we won’t charge you a penny if we can’t cancel any late filing penalties for you and there are no costs involved if you decide you are not happy with the quote, so it’s worth making a query.

If you are happy with the quote, then our fees are usually covered from the refund you may receive once the penalties are successfully cancelled, so nothing is required upfront or throughout the process. In some rare cases, we may require payment upfront when penalties are not paid off by tax refunds and/or clients have not paid tax throughout the year, but you will be made well aware of this. If you have not submitted a tax return for multiple years, then we will be able to help you with this.

I haven’t paid the penalties off, can you still help?

YES! If you are working in the construction industry or pay tax whilst self-employed, you will be able to submit your tax returns and your refunds will automatically be allocated to the penalties. This means that when we cancel or reverse the fines, HMRC will refund the penalties you have paid. We can then take our fees for doing the work at that point, so you are not out of pocket throughout the process and we won’t get paid if we don’t get the job done. If you have not paid the penalties and not paid tax, then we will be able to offer you a FREE QUOTE on how much we can cut your bill down by and then it’s down to you to decide what you’d like to do.

We can go back 10+ years in some cases. If you’ve paid the fines off, then you will STILL benefit from our services because we are able to backdate the claims for you. If you have not paid the fines, then it’s also no problem. We will offer a no-obligation FREE QUOTE to cut down any bill you may have. 

YES! Our limited company team deals with a portfolio of over 400 clients across the UK. This means we can definitely help reduce bills regarding limited companies. Whilst they are slightly different to sole traders, a lot of times we are able to help limited companies in sorting out personal fines associated with their limited company.