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If your return is late you'll incur a initial £100 fixed penalty.nn* If not received after 2 months, you'll be charged a second penalty of £200 n* 6 months after due date - £300 penalty or 5% of any liability to make payments that should have been shown on the returnn*12 months after due date, a 2nd further penalty - this depends on the reason for late return.nThe amount will be either £300 or 5% of any liability to make payments, or higher penalty of: nn*up t0 100% of any liability to make paymentsn*a minimum penalty of £1.5k or £3k.nnIf HMRC find that you deliberately withheld information the penalty could be higher.nn#CIS #CISReturn #CIS300 #latefines #monthlyreturns #Subcontractors #SubcontractorsTax #taxlaw #employmentlaw #Taxregime #ConstructionIndustryScheme...