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Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Sophie has the following information about her payments of tax for 2017/18:
Payment on account 1 £2,000 paid in full on 31 March 2018
Payment on account 2 £2,000 paid in full on 31 July 2018
Final balancing payment £3,000 paid in full on 16 March 2019
Calculate any penalties due.
Right to amend an income tax/capital gains tax return:
Even once a tax return has been submitted, thetaxpayer has a right to amend it for any mistakes as long as it is within
the time frame below. HMRC also have a right to amend the return
HMRC- Nine months form the date the return is actually filed
Taxpayer- 12 months from the usualsubmission date
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