SAM61001 - Interest, penalties and surcharge: penalties: introduction
SA includes provision for penalties to be imposed for example when
- A return is not sent in on time
- A return is found to be wrong as a consequence of the taxpayer’s negligence or fraud (see EH678 Penalties)
There are 3 specific types of penalty
- Fixed Automatic Penalties
- Daily Penalties
- Tax-Geared Penalties
Different rules apply to returns for years up to and including 2009-10 and to returns for 2010-11 and later, in respect of all three types of penalties. For further information regarding the new rules for the tax years 2010-11 and later, see SAM61200 onwards.