Spring 2009 Newsletter Content Oh for a little hindsight Can't pay, won't pay? Shock in Essex Car tax You signed it Don't be late Age before beauty? IHT and falling prices More paper Shopping around Less paper PAYE or not PAYE... Flat rate scheme A change of heart There are limits Do your duty Free lunch VAT a mess Dissatisfaction guaranteed Don't believe it! Too late Tax on tick £100 note Temp reminder

Don't be late Filing company accounts late has been subject to a penalty for a number of years. Up to three months late costs £100. It's hard to persuade Companies House that a missed deadline should not be penalised. The penalties are going up substantially for late filing on or after 1 February 2009. The lowest level goes up to £150, but that's for up to a month late. One to three months becomes £375; more than six months goes up from £500 to £1,500. Once the new rules have been in place for a year, a second successive default leads to a double charge. The figures are about five times greater for public companies. The higher penalties make it even more important to make sure that accounts information is available in good time.