Post office strike could hit tax penalty revenues
Post Office stirke could hit revenues from late tax filings
A postal strike next week could cost the Treasury £100m due to waiving the
penalty fee for late taxes.
With the 31 October paper tax filing deadline looming, HM Revenue &
Customs has confirmed that it would waive the £100 penalty fee for late
payments, with one million returns expected to be late, reports
The
Times.
Around 10% of the 9.2 million returns are estimated to be filed late. But
the 920,000 that would normally be fined £100 by the taxman would probably be
able to appeal successfully.
“There is an existing provision for this… If you post it on 25 October and
there is a strike, then that will have been done in good time so your penalty
will be reduced to nil,” said an HMRC spokesman.
Self assessment filing deadlines have regularly faced the threat of
public sector strike
action.
Further reading:
Strike action closes Revenue and
Customs offices