Late Filing Penalty Assessments for tax (FOI)

Request

A

As at 31 March 2021 how many Late Filing Penalty Assessments have yet to be issued to individuals for either not submitting or submitting late their 2018 Income Returns.

B

As at 31 March 2021 how many Late Filing Penalty Assessments have yet to be issued to individuals for either not submitting or submitting late their 2019 Income Returns.

C

As at 31 March 2021 what is the value of Late Filing Penalties still to be raised in respect of 2018 and 2019 Personal Income Tax Assessments , which have either been submitted late or not submitted at all.

Response

A and B

As at 31 March 2021 the Comptroller of Revenue estimates the following number of 2018 and 2019 assessments may yet be issued subject to further work:

Re 2018 returns: 1,200

Re 2019 returns: 3,500

Potentially therefore a further 1,200 late filing fees may be raised for 2018 and 3,500 for 2019.

C

The value of any further assessments generated through the default assessment process, would determine the value of related late filing penalties (the Income Tax Law allows for abatement of the penalty where the tax payable in accordance with the assessment is less than the penalty). 

Based on the figures above the maximum value of late filing penalties is estimated as follows:

2018: 1,200 at £250 = £300k

2019: 3,500 at £300 = £1.05m