They have paid all tax due, and any interest, surcharges and penalties arising.

If a penalty arises because of a lack of reasonable care, the level of the penalty will depend on the reasons for the error and the potential lost revenue (PLR).

Where it is shown that an estimate was unreasonable and not made to the company's best ability, a penalty may arise.

This guide tells you about Corporation Tax penalties but if your company or organisation does not meet its responsibilities for other taxes and duties, further penalties may also arise.

There are also some differences where other penalties and surcharges arise.

In some cases, the penalty arises when the combined income of the partners pushes them into an income tax bracket higher than they would be subject to if single and filing separately.

But administration officials tonight could not pinpoint what new penalties would arise under this rule if the disclosures proved to be inadequate or dishonest.

This penalty will never arise as a result of failing the nondiscrimination tests.

If your return was originally received in time but you needed to add additional information and then you resubmitted the return late, a penalty may arise.

The penalty arises out of two basic elements of the tax code.