5% late payment penalty on any 2015/16 outstanding tax which was due on 31st January 2017 and still remains unpaid
This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Classses 2 and 4 NI, capital gains tax or High Income Child Benefit Charge liabilities.
The balance of any outstanding income tax, Classes 2 and 4 National Insurance, capital gains tax and High Income Child Benefit Charge for the year ended 5th April 2016 was due for payment by 31st January 2017. Where the payment is made late interest will be charged. On 2 March 2017 a late payment penalty of 5% will be added to the outstanding liability.
If we have already dealt with this matter on your behalf you need take no action.