How does HMRC calculate the level of penalties to be charged to your client?
There are two types of penalties – those that are fixed and those that are tax geared. But did you know your client’s behaviour will affect the level of tax geared penalties they have to pay?
Residency position on tax returns
HMRC are wanting taxpayers to review their residency position before they submit their tax returns, or to undertake a “repair” if they have already done so.