Late with a quarterly update or a tax payment? Work out the cost — penalty points, the late-payment percentages, and the interest — in seconds.
Late submission and late payment are separate regimes — both can apply.
2026/27 soft landing: quarterly-update misses add no points this year (£50k cohort). The final declaration is not covered.
One point per missed submission; £200 at four points, and another £200 for each further late submission while at the threshold. Points expire after 24 months if you stay under the threshold.
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What happens if you miss a quarterly update · Your MTD deadlines
Estimate only, not tax advice. Penalties depend on your exact dates and circumstances; interest depends on the current Bank of England base rate. Time to Pay arrangements may reduce penalties. Based on HMRC rules as at June 2026.
Late submission uses a points system: one point per missed update, a £200 fixed penalty at four points, and another £200 for each further late submission at the threshold. In 2026/27, the £50k cohort gets a soft landing — no points on the four quarterly updates (the final declaration isn't covered).
Late payment scales with the tax owed: 3% at day 15, another 3% at day 30, then a daily 10%-a-year charge from day 31 — plus interest from day 1 at the Bank of England base rate + 4%. A first-year 30-day grace period can prevent the penalty.
Related: What happens if you miss a quarterly update · Your MTD deadlines
Estimate only, not tax advice. Penalties depend on your exact dates; interest depends on the current Bank of England base rate. Based on HMRC rules as at June 2026.