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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › penalties for late payment
Hi Tax Tutor, please, I am not clear about the statement that “penalties for late payment do not apply to late payment on account” and penalties for late payment apply to:
1.balancing payments of income tax and class 4 NICs and any CGT under self assessment or a determination.
2.Tax due on the amendment of a self assessment.
3.Tax due on a discovery assessment.
does that mean there is a difference between payment on account and payment under self assessment. please clarify further.
thanks in advance
