PAYE and NICs – late payment of amounts due during 2010-11 – penalty under Schedule 56 Finance Act 2009 – reasonable excuse – held that for period up to 1 June 2010, Appellant had reasonable excuse – insufficiency of funds attributable to events outside the Appellant’s control – penalty also imposed by reference to late payment of 2010-11 PAYE and NIC due on 19 April 2011 – this late payment not to be taken into account as the default was outside the 2010-11 tax year and was the first default in the following year – applicable penalty rate reduced to 3% and penalty reduced from pounds 7,418.10 to pounds 5,494.60 – appeal allowed in part
Citations:
[2011] UKFTT 774 (TC)
Links:
Jurisdiction:
England and Wales
Taxes – Other
Updated: 04 October 2022; Ref: scu.450956