Flat or fixed rate penalties

If a company is required to deliver a Company Tax Return but fails to deliver it by the filing date, fixed/flat rate penalties are charged. If the return is delivered within 3 months of the filing date the penalty charged is £100. If the return is delivered more than 3 months after the filing date the penalty is £200.

If a company makes late returns for 3 successive Accounting Periods for which returns are required, the flat rate penalty charged for the third (and subsequent Accounting Periods) where the return is filed late increases. The increased penalty rates are £500 if the return is delivered within 3 months of the filing date and £1,000 if the return is delivered more than 3 months after the filing date.

The penalties are called fixed rate for Corporation Tax Pay & File Accounting Periods and flat rate for Corporation Tax Self Assessment Accounting Periods.