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From our Blog

Penalties for tax errors increased

HMRC has changed the way it calculates penalties charged to taxpayers who have made mistakes in their tax returns or failed to notify HMRC of a tax liability.  Penalty regime Where a taxpayer fails to notify HMRC of their tax liability or makes an error (careless or deliberate) in a tax return, HMRC can charge the taxpayer a penalty, calculated as a percentage of the potential lost revenue (PLR). There…  Read more

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