Infographic: Tax penalties
Check out this visual summary of the various penalties applied by HMRC across the UK tax system.
We've put together an infographic showing the different penalties applied by HMRC and the levels of sanction for each breach of the regulations. This is important information for the Principles of Taxation and TPS Taxation courses.
The four areas are:
- Failure to notify chargeability
- Filing an incorrect tax return
- Late filing of a tax return
- Failure to pay on time.