Wise Owl Accountants

HMRC has just made a costly mistake even more expensive🚨

Late filing penalties for Corporation Tax have now doubled📈

Which means missing your deadline doesn’t just cause stress - it hits your business twice as hard💸

1 day late? Now £200.
3 months late? Now £400.
6 months late? HMRC will estimate your Corporation Tax bill and add a penalty of 10% the unpaid tax.
Still 12 months late? Another 10% of any unpaid tax

If your tax return is late 3 times in a row, the £200 penalties are increased to £1,000 each‼️

And here’s what most people don’t realise, you can still be fined even if you owe ZERO tax🤯

The problem?
Most businesses don’t miss deadlines on purpose…

It’s usually down to:
📂 Poor organisation
⏳ Leaving things too late
🤝🏼 Or not having the right support

But with penalties now higher than ever, avoiding late filing is more important than ever⚠️

DM us “TAX” if you want support with your Corporation Tax returns📩

#accountantuk #accountantdevon #taxadvice #corporationtax #taxreturn