Quick Answer
There is an automatic £100 penalty the day after the deadline, even if you owe no tax. After three months it becomes £10 a day up to £900,…
There is an automatic £100 penalty the day after the deadline, even if you owe no tax. After three months it becomes £10 a day up to £900, and further penalties apply at six and twelve months. Interest runs on unpaid tax from the due date.
If you are already late, file as soon as possible — the penalties stack up rather than replacing each other.
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