It's that time of year again with the Revenue raking in an estimated windfall of £365 million. Taxpayers that submit late self-assessment returns will be the ones giving the Inland Revenue money for nothing again this year. For people that missed the 30 September deadline, they now have the added burden of calculating their own tax due for payment.
According to IFA Promotion, the organisation that promotes the benefits of independent financial advice, the majority of the £365 million will be made up from fines for people miscalculating tax. The rest of the fines generally come from late return of forms and penalties for late payment of tax due.
Search the archives for tax stories.
Visit the Tax Zone for sites and ideas that can help you save tax.