Updated 2019 tax return penalties.
Revenue Jersey have implemented some significant increases to the penalty system for late submission of tax returns for 2019, so its important to plan and note to avoid some hefty penalties being levied. The updated information for 2019 is as follows:
Personal tax returns
Filing by paper, the deadline is midnight 31 May
Filing online, the deadline is midnight 31 July
The penalty for late tax return submission is increased to £300 and there is a new penalty for further delays of £50 per month, up to a total penalty of £750.
Further details can we found on the following link: http://bit.ly/328iEvj
Corporate tax returns:
A company is required to deliver its return for the year of assessment by midnight on 31 December of the following year.
The penalty late tax return submission is increased to £300 and there is a new penalty for further delays of £100 per month, up to a total penalty of £1200.
Further details can we found on the following link: http://bit.ly/2uc7nxs
Plus in both cases if court action is taken to demand the return the penalties jump to a level of £1,000 per day.
If you have any queries or concerns about the tax returns process and require further advice and support please do not hesitate to contact us as GS Accountants, we would be more than happy to help
Email us at: email@example.com or call us on 01534 766671