Flanks the Revenue don't give out any money!
Paul, the fine is still a culpable tax item so in their eyes still tax. Strange there is a penalty where no tax due though. With other taxes income tax, corporation tax the fine cannot exceed the tax due, i.e. no tax no fine. In fact this Revenue document appears to agree:
http://www.hmrc.gov.uk/so/so10.htm#1 Quote:
If you submit your document late you should also expect to be charged a penalty:-
If your document is less than 1 year late the maximum penalty will be an amount equivalent to the duty or £300 whichever is less
If your document is more than 1 year late the maximum penalty you will pay will be an amount equivalent to the duty or £300 which ever is more
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