HMRC has issued guidance on late filing and late payment penalties for the soft drinks industry levy (SDIL), which will start to apply to the first quarterly returns submitted after the due date of 30 July 2019.
The reporting periods for SDIL are June, September, December and March. Returns must be submitted, and payment made, within 30 days of the end of the reporting period.
For the first late filing, HMRC will charge a penalty of £100. A second, third and fourth late return within 12 months of the previous late return would incur penalties of £200, £300 and £400 respectively. The penalty for subsequent late returns within 12 months would then be £400.
Additional penalties will be charged for returns outstanding 6 months and 12 months after the due date, amounting to the greater of 5% of the liability for the return period, or £300.
Late payment penalties will be charged at 5% of the outstanding amount, with an additional 5% on payments still outstanding 5 months and 11 months from the day after the payment is due.
HMRC has issued guidance on late filing and late payment penalties for the soft drinks industry levy (SDIL), which will start to apply to the first quarterly returns submitted after the due date of 30 July 2019.
The reporting periods for SDIL are June, September, December and March. Returns must be submitted, and payment made, within 30 days of the end of the reporting period.
For the first late filing, HMRC will charge a penalty of £100. A second, third and fourth late return within 12 months of the previous late return would incur penalties of £200, £300 and £400 respectively. The penalty for subsequent late returns within 12 months would then be £400.
Additional penalties will be charged for returns outstanding 6 months and 12 months after the due date, amounting to the greater of 5% of the liability for the return period, or £300.
Late payment penalties will be charged at 5% of the outstanding amount, with an additional 5% on payments still outstanding 5 months and 11 months from the day after the payment is due.
