In Parliament - Self assessment penalties

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In Parliament

Self assessment penalties

The amount of fines levied by the Treasury in respect of late filing of self-assessment tax returns was the subject of a question to the Chancellor, to which Dawn Primarolo replied that neither the Treasury nor the Revenue levied fines for failure to complete individual tax returns by 31 January. She said that 'taxpayers filing late ... render themselves liable for penalties'. Penalty receipts were accounted for by the Revenue in account years ending in October. Receipts for late filing penalties were:

(Source: Hansard, 14 March 2001, Vol 364, No 51, col 653W.)

Finance Bill

The Finance Bill is to be published on Friday 30 March 2001, together with explanatory notes.

Pensioner returns

In response to a written question concerning the number of pensioners who completed tax returns, Dawn Primarolo said that approximately 1.3 million (or 12 per cent) pensioners completed a tax return for the year 1998-99.

(Source: Hansard, 15 February 2001, Vol 363, No 39, col 302W.)

Self assessment savings

Replying to a question concerning the savings made by the Revenue as a result of self assessment, Dawn Primarolo said that the introduction of self assessment was a 'long term investment involving significant costs' for the Revenue, and that savings would not emerge until 2005. However, by 2000-01 cash savings of £145 million had been deducted 'from the Revenue baseline'.

(Source: Hansard, 1 March 2001, Vol 363, No 43, col 768W.)

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