Late filing penalties reduced by 70% for first time filer

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In Palmer [2018] TC 06411, the First Tier Tribunal has decided that although there was no reasonable excuse for the late filing of a return, the penalties charged should be reduced by 70% because the taxpayer was a first time filer.

This case is another reminder of how penalties can be mitigated even if there is no legitimate reason why a return has been filed late.

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