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Posted Sun, 23 Oct 2022 22:43:11 GMT by mrwickes
Hello, I am a permanent tax paying resident in the UK. I have non residential accounts back home and I do earn interest from the money in them and pay tax there too. I have no other form of income abroad. I now understand that I needed to declare the interest earnings in the returns. This is totally an innocent/ignorant mistake and I will now declare this and pay any past dues. Will I be charged a penalty as well? Thanks
Posted Wed, 26 Oct 2022 14:37:29 GMT by HMRC Admin 32

There is a possiblity that penalties may be applied.  

You can estimate your Self Assessment penalties here:

Estimate your penalty for late Self Assessment tax returns and payments.

If penalties are applied, you can appeal them, provided HMRC has all of your tax returns.  

You can find guidance which will help you submit appeals against late filing and late payment penalties here:

Disagree with a tax decision

You are unable to appeal against interest charges on the late payment of penalties on outstanding tax. You can, however, object to the interest charges. We would only consider your interest objection when all tax liability is paid.

You can raise an objection by phoning or writing to HMRC.

Thank you.

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