ExpertMedium2 marksMultiple Choice
ACCA · Question 01 · The UK Tax System and Administration
Section A: Objective Test
Marcus, a freelance graphic designer, submitted his electronic self-assessment tax return for the tax year 2023/24 on 14 August 2025. He paid his balancing payment of £4,200 on the same date. He had no reasonable excuse for the delay.
What is the total late filing penalty that Marcus will be charged by HMRC?
Section A: Objective Test
Marcus, a freelance graphic designer, submitted his electronic self-assessment tax return for the tax year 2023/24 on 14 August 2025. He paid his balancing payment of £4,200 on the same date. He had no reasonable excuse for the delay.
What is the total late filing penalty that Marcus will be charged by HMRC?
Answer options:
A.
£100
B.
£900
C.
£1,000
D.
£1,300
How to approach this question
Calculate the penalties chronologically: 1 day late, 3 months late (daily), and 6 months late.
Full Answer
D.£1,300✓ Correct
The deadline for electronic filing for 2023/24 is 31 January 2025. Marcus filed on 14 August 2025.
1. 1 day late (1 Feb 2025): £100
2. 3 months late (from 1 May 2025): £10 per day for max 90 days = £900
3. 6 months late (from 1 Aug 2025): Greater of 5% of tax due (5% x £4,200 = £210) or £300 = £300.
Total late filing penalty = £100 + £900 + £300 = £1,300.
Common mistakes
Forgetting the £300 minimum for the 6-month penalty and just calculating 5% of the tax.
Practice the full ACCA TX — Taxation Practice Exam 1
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