Small businesses who missed first tax return deadline spared HMRC fine

HMRC is dismissing fines for around 120,000 businesses who missed the first Making Tax Digital deadline on August 7.

A significant one in four businesses failed to file on time, meaning that HMRC could have issued tens of millions of pounds worth of fines. Officials said that they wouldn’t issue the penalties because businesses are ‘fully focused’ on exiting the EU come October 31.

Read more at Small Business.